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.

Copyright 2024 Alliance News Ltd. All Rights Reserved.