HgCapital Invests $1B In Software Biz, Takes Joint Control

Law360 (July 13, 2021, 5:23 PM EDT) -- Private equity firm HgCapital said Tuesday that it has invested $1 billion in financial software company insightsoftware and is taking joint control of the business, in a transaction valuing the group at about $4 billion.

The London-based Hg said in a statement with co-controlling shareholder TA Associates that minority investors Genstar and ST6 will stay with insightsoftware as it continues to grow since its founding in 2018.

"The business sits right at the heart of a cluster — tax and accounting software — that we have been investing in for almost two decades and we look forward to bringing this experience...

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