HgCapital Trust on Monday noted its manager, HG, has agreed to a part realisation of its investment in Azets Group.
The London-based investment vehicle that provides shareholders access to the unquoted businesses managed by New York-based Hg said Pai Partners has joined Azets as a new investor and will hold an equal and controlling stake in the company alongside Hg.
Aztes is a London-based provider of business-critical accounting, tax, payroll, audit and advisory services to small and medium-sized enterprises.
Pai Partners is a London-based equity firm.
Details of the transaction were not disclosed, and completion is subject to regulatory approvals.
HG Capital Trust’s investment in Azets is approximately £54.3 million.
Shares in HG Capital Trust were up 1.4% at 395.00 pence each in London on Monday morning.
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