HgCapital Trust PLC (HGT.L) Wednesday said it has agreed to sell a part of its investments in team.blue to Canada Pension Plan Investment Board or CPP Investments.
HgT will receive about 32.6 million pounds from team.blue, having re-invested a portion of its proceeds in the business alongside other institutional clients of Hg.
The transaction values HgT's investment in team.blue at about 95 million pounds, 30 percent up over the carrying value of 73.2 million pounds in the Net Asset Value of HgT at 31 March 2024.
Upon closing the deal, HgT's exposure to team.blue will be 62.4 million, nearly 2.6 percent of NAV.
Other terms of the transaction have not been disclosed.
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