HgCapital Trust plc has committed approximately £46m, equivalent to around $62m, to new co-investments in OneStream and Septeo Group, reinforcing its exposure to Hg-backed software platforms. The move follows the over-subscribed $1.5bn equity syndication of OneStream completed by Hg via its Saturn 4 fund. HgT will invest an additional $9m, approximately £7m, as a co-investor, bringing its aggregate investment in OneStream to roughly £100m.

In a separate transaction, Hg agreed a partial sell-down of more than €500m, equivalent to approximately $540m, of equity in Septeo at its 31 December 2025 valuation. As part of the process, HgT converted around €45m, approximately £39m, of its net asset value exposure in Septeo through the Hg Genesis 9 fund into a fee-free co-investment structure alongside new institutional investors. The two transactions, agreed during a period of public market volatility, demonstrate continued institutional appetite for Hg's portfolio companies.

Following completion, HgT's fee-free co-investment exposure increases from around 10% to 12% of its estimated 31 December 2025 NAV. The strategy underscores HgT's focus on enhancing capital efficiency by increasing direct, fee-free exposure to core software holdings while recycling capital through partial sell-downs. These co-investments position HgT to benefit from the growth of leading enterprise software platforms while maintaining disciplined capital allocation.