In announcement, HgCapital said that April 15, 2013 would be the final closing of its newest private equity fund HgCapital 7. The GBP2 billion fund would provide a broad coverage of the North European market through its sector teams, portfolio management group and investment branches in Munich and London.
Before the launch, HgCapital had set the ceiling at GBP2 billion in consonance with the investment strategy, diversification plans and capacity to invest and manage the portfolio to realize the returns for its investors. Despite being oversubscribed, the firm maintained the hard cap.
The new fund is supported by many institutional investors and the commitments are diversified by geography, investor type and size of commitment. The biggest commitment comes from HgCapital Trust plc with GBP200 million investmtne into the fund.
According to Craig Donaldson, Partner and Head of Business Strategy and Client Services, "We are extremely grateful for the support we have received from investors and we are thankful that our clients have helped position us for siccess. Ultimately, HgCapital 7 will be measured not by its fundraising success, but rather thereturns generated for our clients."
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