HgCapital LLP is pitching a new fund that would provide debt to the private-equity portfolio companies that the London-based firm backs.
The fund would invest in eight to 10 portfolio companies across two fund strategies of HgCapital.
The new credit fund, Hg Titan I LP, is targeting $600m and is expected to collect up to $1bn of investor commitments, according to presentation materials prepared for a May investment advisory council meeting of the Connecticut Retirement Plans and Trust Funds. The pension system is considering a commitment of up to $75m to the Titan fund.
Hg is a private equity firm targeting technology buyouts primarily in Europe and the US. Hg focuses on investments in technology and services sectors. It invests out of its 8th $3.5bn core fund and its 2nd $816m Mercury fund, targeting smaller technology buyouts, both raised in February 2017.
Source: Wall Street Journal
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...