HgCapital reports robust first-quarter performance

HgCapital Trust reported a robust first-quarter portfolio performance on Thursday, resulting in a total return net asset value (NAV) increase of 3% to reach a NAV per share of £5.11, totaling £2.3n in net assets.

The London-listed firm said its top 20 investments, representing 78% of the portfolio by value, were showing strong long-term performances, with a 24% increase in sales and a 29% increase in EBITDA over the last 12 months.

It reported a solid balance sheet, with available liquid resources of £657m, equivalent to 28% of NAV, including an untapped bank facility of £375m.

Additionally, HgCapital said it had commitments to Hg funds totaling £826m, equivalent to 35% of NAV, to be deployed over the next three to four years.

Looking ahead, HgCapital said it anticipated further liquidity events within the next six to 12 months, and was continuing to evaluate an appealing pipeline of investment opportunities.

At 1231 BST, shares in HgCapital Trust were up 0.05% at 493.75p.

Reporting by Josh White for Sharecast.com.