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HgCapital Trust PLC on Friday said its manager Hg will invest in European insurance brokerage platform, GGW Group GmbH.
HgCapital Trust is a London-based investor that provides access to the private equity investments of London-based manager Hg.
GGW is based in Hamburg with offices also in Austria, Switzerland and Turkey. It describes itself as a partnership of owner-managed insurance brokers and underwriting agents.
HgCapital Trust said the deal will close in the second quarter of 2024. Financial terms were not disclosed.
HgCapital Trust itself will invest around £44.2 million in GGW.
Shares in HgCapital were up 1.5% at 430.46 pence each in London on Friday.
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