HgCapital eyes up to £2.5bn for latest Europe Fund

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European private equity firm HgCapital is looking to raise up to £2.5bn for its latest fund, AltAssets can reveal.

HgCapital 8 is yet to receive any commitments from LPs according to filings with the US Securities and Exchange Commission.

The firm has filed several parallel vehicles to raise capital for the fund, with Rede Partners acting as placement agent.

Its is unclear from the filings whether the £2.5bn total offering is a hard cap or a target.
A spokesperson for the firm declined to comment on the fundraising.

Fund 8 comes three years after its predecessor closed at its £2bn hard cap.

HgCapital 7’s commitments were well diversified by geography, investor type and commitment size, with the largest commitment coming from HgCapital Trust with a £200m investment in the fund.

The firm primarily focuses its buyout investments in the UK, Germany and the Nordic Region, as well as selectively across the rest of Western Europe.

However, its sector focus precedes geography, with HgCapital said it prepared to invest in other geographies, in sub-sectors where we have previously made repeated investments.
Its sector focus includes TMT, services, industrials and renewable energy.

HgCapital’s portfolio includes insurance broker A-Plan, digital publishing solutions provider EidosMedia, commercial laundry machine business JLA, accountancy and payroll software provider IRIS, and automotive parts company Parts Alliance, among others.

Copyright © 2016 AltAssets

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