HgCapital Trust net asset value falls despite 'strong' first quarter
HgCapital Trust PLC on Thursday reported ‘strong’ trading during the first quarter of 2025 despite a decline in net asset value, as the firm looks to the future with optimism.
The London-based trust which provides access to the private equity investments of manager Hg said its net asset value per share declined by 2.0% over the three months that ended March 31 to £5.31, with net assets of £2.4 billion.
Growth during the quarter contributed 5% to total group NAV growth, though this was offset partly by lower valuation multiples.
HgCapital made £49 million in realisations during the first quarter, as well as further post-period exits totalling £102 million. The trust deployed £46 million to completed investments during the three-month period, with estimated post-period investments of £232 million.
Over the past rolling twelve months, HgCapital has delivered sales growth of 20%, alongside a 21% rise in earnings before interest, tax, depreciation and amortisation.
‘Hg continues to screen an attractive pipeline of investment opportunities and further liquidity events are expected over the next six to twelve months’, said HgCapital Trust.
Shares in HgCapital Trust were down 1.4% at 516.73 pence each in London on Thursday afternoon. The stock has risen 4.7% over the past year.
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