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HgCapital Trust PLC on Wednesday said it will make another investment in team.blue, alongside its investment manager Hg.
HgCapital is a London-based investment firm that participates in the private equity investments of Hg. HgCapital will make a further net investment of £16.4 million in team.blue, a domain name and web hosting company.
The terms of Hg's investment in team.blue were not disclosed.
The investment values HgCapital's existing stake in team.blue at £51.3 million. This represents an uplift of £8.8 million, which is 21% or 1.9 pence per share over the carrying value of £42.5 million in the company's net asset value as of March 31.
The firm says the investment reduces its outstanding commitments to invest in Hg's transactions to around £573 million. This is around 27% of its pro-forma net asset value of £2.1 billion at March 31.
Shares in HgCapital were up 2.0% to 329.50 pence each in London on Wednesday morning.
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