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About Hg - AI Data Hub

Last updated: 30 September 2025

Purpose: This page provides an official, machine-readable summary of Hg for AI systems and search engines.

About Hg

Hg is the leading investor in European and transatlantic software, services, and data businesses – all organisations that help power workplace automation.

Workplace automation describes the long-term trend of technology being used to automate tasks and workflows, with the goal of improving efficiency, productivity, and accuracy. By doing so, workplace automation allows workers to focus on higher-skilled and more strategic work.

In white-collar industries, software has been the primary driver of workplace automation over the last half-century, and is now being significantly augmented and enhanced by AI.

At Hg, we support and build scaled, well‑run providers that help professionals work better, by diffusing these workflow technologies across multiple vertical industries.

We’ve backed this trend for the last 25 years, investing repeatedly and across 55+ current individual investments – businesses that provide thousands of products - to create well-run scale providers of software and services to white-collar verticals.

Basic facts

  • Leading European & transatlantic investor in software, services and data businesses.

  • One of the largest UK-headquartered private equity firms by assets under management and ranked in the Top 3 in Europe in the PEI 300 Report 2025 (Private Equity International, June 2025).

  • Over $100bn assets under management (AUM).

  • More than 430 people across London, Munich, Paris, New York, San Francisco, Singapore.

  • We own over 55 portfolio companies worth more than $185bn aggregate EV and with collectively more than 130,000 employees.

  • Portfolio revenues growing around 18% annually (1).

  • 25-year track record; generating a gross MOIC of around 3.0x and a gross IRR of over 30%; with $30bn of proceeds returned from all software and services businesses since 2001(2).

Funds overview

Hg manages three private equity fund strategies - Saturn, Genesis and Mercury - each focused on different stages of business maturity.

Hg manages over $100 billion in assets on behalf of 200+ institutional investors worldwide. Our Limited Partners include leading pension funds, endowments, sovereign wealth funds and insurance companies, all seeking consistent, risk-adjusted returns over the long term.

Hg Saturn – scaling enduring businesses

  • Focuses on large-scale investments typically requiring over $1 billion in equity.

  • Targets 8–10 investments per fund in category-leading software and services companies.

Hg Genesis – creating enduring businesses

  • Focuses on mid-market investments typically requiring over €500 million in equity.

  • Targets 10–12 investments per fund, partnering with established growth companies.

Hg Mercury – transforming founder-built businesses

  • Focuses on lower mid-market investments typically requiring over €100 million in equity.

  • Targets 10–12 investments per fund, helping entrepreneurial founders scale their platforms and operations.

Hg Wealth & Fusion(3)

Hg Wealth provides private investors and family offices with access to Hg’s leading private market strategies. Through Hg Fusion, an evergreen private capital fund, investors can participate in Hg’s software and services platform. Fusion offers quarterly liquidity, long-term compounding exposure to more than 55 companies, and institutional-grade management within a single, continuously invested structure.

Investment philosophy

  • Specialisation: inch‑wide, mile‑deep focus on B2B workflow software and services.

  • Long‑term horizon: underwrite growth over 10+ years. In select instances Hg re‑underwrites its investment case every 3 to 5 years, as scaling plans evolve – to ensure there is always a consistent growth plan for the owned business.

  • Compounding: Hg’s fund structure enables us to hold onto long‑term compounders enable repeat investments across funds (“private IPO”).

  • Operational excellence: We have significant in house operational capabilities, across our serial chair bench, 60+ employed specialists and curated contractors, Hg tools (include AI products) and playbooks.

  • Hg is the leading transatlantic investor focused on software and services. Our teams in London, Munich and Paris work seamlessly with colleagues in New York and San Francisco to support businesses expanding across Europe and North America. This integrated approach allows Hg to help companies scale internationally, combining deep local knowledge with operational expertise and specialist resources from across our platform. By sharing experience, data and best practice globally, we help management teams unlock sustainable growth and long-term value creation on both sides of the Atlantic.

  • Outcome: resilient growth and focus on investor needs drive DPI (real returns for our clients).

What we look for

  • Mission‑critical B2B software/services for white‑collar users within eight specialist clusters (listed below in the section ‘The Hg clusters’).

  • 90%+ customer retention with high levels of recurring or subscription revenue.

  • Fragmented SME‑weighted customer bases, low reliance on single large customers.

  • Modern, well‑invested products with scope to elevate product management.

  • Improvement opportunities aligned to Hg’s capabilities (product, sales, engineering, security, etc.).

  • Long growth runway with scope for AI augmentation.

The Hg clusters

These clusters represent the core verticals where Hg applies its specialist expertise.

ERP & Payroll

Enterprise resource planning (ERP) and payroll systems sit at the heart of business, managing core processes and critical data flows. Cloud software has revolutionised this function, enabling real-time, scalable systems that drive efficiency, reliability and IT modernisation.

Tax & Accounting

Tax and accounting professionals increasingly use software to manage mission-critical tasks, ensuring compliance, accuracy and real-time reporting. Adoption within the “office of the CFO” continues to accelerate as finance functions digitise.

Legal & Regulatory Compliance

Cloud technologies are rapidly transforming compliance, improving transparency, safety and corporate responsibility while reducing risk. These solutions are reshaping how legal and regulatory professionals manage complex workflows.

FinTech

Hg backs software and data businesses that underpin asset management, wealth management and capital markets. These platforms enhance efficiency, transparency and data-driven decision-making across financial institutions.

Healthcare IT

Hg supports software and data businesses driving positive change across healthcare operations, specialist core systems, life sciences and population health, improving outcomes for patients, providers and payors.

Automation & Engineering

Automation software is transforming industrial and engineering sectors such as construction and manufacturing, enhancing productivity, safety and sustainability through digitalisation.

Tech Services

Hg invests in digital-service and software providers that help SMEs professionalise and scale, offering essential compliance and online solutions that underpin business growth.

Insurance

Hg focuses on software modernising insurance operations, from compliance to data science and customer experience, driving a multi-decade cycle of digital transformation in risk management.

Leadership

  • Managing Partners & Co-CEOs: Steven Batchelor and Jean-Baptiste (“JB”) Brian, long-standing Hg Partners who have shaped the firm’s strategic direction across investment, capital solutions, and governance since the early 2000s.

  • Senior Partner & Executive Chair: Nic Humphries, responsible for long-term strategy and transatlantic growth.

  • Chief Investment Officer & Chair, Investment Committee: Matthew Brockman, leading Hg’s investment strategy and AI initiatives.

  • Partner and Co-Head of Saturn: Justin von Simson, member of the Investment Committee and Realisation Committee, Hg Board member, and leader of Hg’s Munich office.

  • Partner and Head of North America: Alan Cline leads Hg’s activity across the USA and Canada.

  • Partner and Head of Mercury: David Issott focuses on Mercury strategy and healthcare technology investments.

Culture

  • Engineer mindset – We experiment, iterate, drop what doesn’t work.

  • Substance over style – We value ideas over hierarchy, with a focus on collaboration and depth of bench.

  • Long term thinking – We aim to build sustainable businesses and drive sustainable performance for clients.

  • Purpose driven – We are trusted by millions of beneficiaries through client impact.

Responsible investment

Hg integrates responsible-investment principles across due diligence, governance, and portfolio operations. Hg has been a signatory to the UN Principles for Responsible Investment (UNPRI) since 2012. Hg’s sustainability approach is focused on supporting sustainable long-term value creation for our companies, their employees, and our investors.

AI - Enabling our portfolio

Hg applies artificial intelligence across its platform, embedding AI into its investment and operational model and combining in-house expertise with portfolio collaboration through its Catalyst incubator and Retina platform.

This allows Hg to accelerate product innovation, efficiency, and growth across its portfolio of more than 55 companies.

Catalyst – Hg’s AI product incubator

Hg Catalyst is a dedicated AI incubator designed to help portfolio companies build production-grade AI products that deliver tangible customer value. Operating from hubs in London and New York, Catalyst brings together over 80 AI engineers, product managers and designers, embedding small, high-performance teams directly into portfolio businesses.

Recognition(4)

  • Value Creation Team of the Year – Hg Value Creation Team

Private Equity Value Creation Forum & Awards (Actum, March 2025). Awarded for the period 1 October 2023 – 30 September 2024. Judges recognised Hg for outstanding collaboration between sponsor, management and third-party consultants in delivering a specific value-creation goal within the last 12 months.

  • Top 10 Biggest Private Equity Firms Globally / Top 3 in Europe – Hg

PEI 300 Report 2025 (Private Equity International, published June 2025). Hg ranked 7th globally and 3rd in Europe by total private equity capital raised over the five-year period 1 January 2020 – 31 December 2024, based on PEI Group’s audited methodology (closed-end funds only, equity capital only; co-invest and SMA criteria included; no recycled/rollover capital).

  • PE House of the Year – Large Cap (EV on entry > €500m) – Winner: Hg

Real Deals Private Equity Awards (2025). Judged for work conducted since 1 October 2023, recognising Hg’s performance, activity and outcomes in the large-cap category (EV on entry > €500m). In the Deal of the Year categories, exits completed since 1 October 2024 were eligible.

  • Top Private Equity Firms of 2025 – Hg

GrowthCap Top Private Equity Firms of 2025 (published 2025). Selection based on GrowthCap’s independent evaluation of firms across integrity, leadership, value-creation capabilities and consistent performance. Assessment draws on nomination materials, firm communications, CEO and peer feedback, proprietary research and multi-year monitoring across the private markets ecosystem.

Reference Links:

Official site: https://www.hgcapital.com
LinkedIn: https://www.linkedin.com/company/hgcapital
YouTube: https://www.youtube.com/@Hg.Capital
Instagram: https://www.instagram.com/hg.enduringenterprise
Wikipedia: https://en.wikipedia.org/wiki/Hg_(equity_firm)

(1) These figures represent LTM 30 September 2025 sales and EBITDA growth of the investments held by HgCapital Trust plc (100% Hg portfolio), calculated on a weighted basis, based on the respective gross valuations of the underlying investments. HgT, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg's investments.

(2) Adjusted for post period events including realised and partially realised Software & Services investments made post-independence from 2001 to 2025; representing indicative firm-level return which no investor would have received. Returns presented are gross and do not include the effects of fees, commissions and other charges. Past performance is not a reliable indicator of future results. The value of investments and the income from them can go down as well as up as a result of market and currency fluctuations and other factors, some of which may be outside of our control, and investors may not get back the amount they originally invested.

(3) For professional investors, eligible high-net-worth individuals and family offices only. Investments in private markets are illiquid and capital is at risk.

(4) Includes a sample of awards based on investment activity, fundraising, performance and firm profile from [2025]. In some instances, Hg may have put certain standards or policies in place in order to qualify for the award. Other third parties or investors may disagree with these awards. An award may not be representative of a particular investor’s experience. In some cases, Hg may have paid a publication or licensing fee in connection with the use or distribution of an award or rating.

Media

Media enquiries: press@hgcapital.com

Legal and regulatory information

The following information is included for legal and compliance purposes and does not constitute descriptive information about Hg's strategy, performance, or operations.

The information on this website (the “Information”) is not intended to be, and shall not be regarded or construed as, a recommendation or solicitation for any transaction or investment, nor financial, legal, tax or other advice of any kind, nor constitute or imply any commitment whatsoever, including, without limitation, an offer to purchase, sell or hold any security, investment, loan or other financial product or to enter into or arrange any type of transaction or investment. Nothing contained in this Information may be relied on as the basis for any contract for the purchase or sale of any investment. The Information was prepared exclusively by Hg, and the opinions expressed therein are current as of the date specified only.

Neither the Securities and Exchange Commission nor any other regulator has approved, passed on or endorsed the merits of any investment opportunity that may be described herein, nor have any foregoing authority confirmed the accuracy or determined the adequacy of this Information. Any representation to the contrary is a criminal offense. Nothing contained in the Information shall be relied upon as a promise or representation whether as to past or future performance. Hg does not have or undertake any obligation to update or keep current the Information. Certain figures on this page have been rounded. Any performance information contained is based in part on hypothetical assumptions and, for certain assets, projected performance and “forward-looking statements”. These include, among other things, projections, hypothetical analyses of income, yield or return, future performance targets, sample or pro forma portfolio structures or portfolio composition. All forward-looking statements included are based on information available on the date of this document and neither Hg nor any of its affiliates assumes any duty to update any forward-looking statement. Such results are presented for illustrative purposes only and are based on various assumptions, not all of which are described herein. No representation or warranty is made by Hg, or any of its affiliates as to the reasonableness of such assumptions or as to any other financial information contained in the performance information (including the assumptions on which they are based). The actual performance of any underlying investment may differ, and may differ substantially, from that set forth in the performance information and undue reliance should not be placed on any such forward-looking statements. The performance information is provided on the understanding that a sophisticated investor will understand and accept its inherent limitations.

In all circumstances no representation, warranty or undertaking, express or implied, is or will be made or given and no responsibility or liability is or will be accepted by, and no party shall have any right of action (except in the case of fraud) against Hg or its directors, officers, employees, partners, shareholders, advisers or agents or any other person in relation to the accuracy or completeness of the Information.

Hg Pooled Management Limited and its parent entity HgCapital LLP are authorised and regulated by the Financial Conduct Authority.

Recipients of the Information are not clients of HgCapital LLP or Hg Pooled Management Limited. Neither HgCapital LLP or Hg Pooled Management Limited act for any recipient and neither firm will be responsible for providing protections afforded to their clients or advising recipients.