Hg raises $11bn for largest European buyout fund YTD

European private equity major Hg has raised $11bn for its latest fund, Saturn 3, significantly ahead of its original $8.5bn and making it the largest European buyout fund to close so far this ear, according to a report by Private Equity International.

The fund which launched at the end of last year, reportedly closed in August. The $11bn raised makes it 22% larger than the year’s next biggest European fund Nordic Capital‘s €9bn Nordic Capital XI, which closed in October, and around 59% larger than BC Partners‘ €6.9bn BC European Capital XI, which closed in January.

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The fund is reportedly already around 28% invested across two transactions: business management software provider The Access Group and software vendor IFS.

Hg is a European investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses.

Hg has funds under management of over $30bn, with an investment team of over 140 professionals, plus a portfolio team of more than 30 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 30 software and technology businesses, worth over $50bn aggregate enterprise value, with over 35,000 employees globally.

Source: Private Equity Wire

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