HgCapital Trust to invest £20m in Gen II Fund Services; agrees to sell Eucon Group

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StockMarketWire.com – HgCapital Trust said it had invested about £20m in Gen II Fund Services, a private equity fund administrator.

The terms of the transaction were not disclosed and closing of the transaction was conditional on customary anti-trust and regulatory approvals, the company said.

The investment will reduce HGT’s outstanding commitments to invest in Hg transactions to approximately £663 million, it added.

The Gen II Fund is a pure-play provider of alternative asset fund administration services.

In a separate announcement, the company said it had agreed the sale of Eucon Group to VHV Group, a leading German insurance group.

The terms of the transaction, expected to be close later this year, were not disclosed.

Eucon is a provider of information and data-based systems for efficient product management in the automotive aftermarket. Story provided by StockMarketWire.com

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