No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - HgCapital Trust said on Wednesday that it would invest approximately 7m in Street Group as part of a strategic growth investment valuing the Manchester-based property software company at more than 200m.
Other institutional clients of Hg will invest alongside the trust through the Hg Mercury Fund, while financial terms of the transaction were not disclosed.
Street, which provides software and AI tools to UK estate and letting agents, will use the investment to accelerate product development and expand its AI capabilities.
Following the transaction, HgCapital Trust expects to have liquid resources of 278m and outstanding commitments of around 2.1bn, equivalent to 12% and 87% respectively of its pro forma net asset value at 31 March.
At 0947 BST, shares in HgCapital Trust were up 1.31% at 384.97p.
Reporting by Josh White for Sharecast.com.
See latest RNS on Investegate
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.