Tech private equity firm HgCapital announced strong performance of its portfolio, with its three month net asset value (NAV) per share up 11.6 per cent.
It also reported net assets of £1.85bn and market capitalisation of £1.74bn.
Of its top 20 portfolio investments, there was a sales growth of 25 per cent and EBITDA growth of 29 per cent over the last 12 months.
Share price at 30 September 2021 was 391p, a total return year to date of 30 per cent.
Jim Strang, chairman of HgCapital said: “Despite the ongoing disruption caused by COVID-19, HGT’s portfolio companies continued to see strong performance, with the vast majority tracking well against their respective business plans.”
HgCapital encourage shareholders to invest in predominantly in unquoted companies “where value can be created through strategic and operational change”.
Investments included payroll provider Brightpay and insightsoftware.
On this, Strang said: “Prospects for the rest of the year remain very encouraging. However, the Board remains ever vigilant to the risk environment in which HGT is operating. We believe that HGT is well placed to maintain its recent record of value creation for shareholders. “
Based on HGT’s share price at 31 March 2021 and allowing for all historic dividends to be reinvested, an investment of £1,000 twenty years ago would now be worth £14,935, a total return of +1,394 per cent. An equivalent investment in the FTSE All-Share Index would be worth £2,829.
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