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Hg agrees partial sale of TeamSystem to ADIA and CapitalG

Hg, the manager of HgCapital Trust (HGT), has agreed the partial sale of its investment in TeamSystem, a provider of business software solutions to businesses and accountants in Italy and Spain, to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and CapitalG, Alphabet’s independent growth fund. 

Both will acquire minority stakes in the business while Hg will also remain as a minority investor in the business. Hellman & Friedman (H&F) will remain the majority shareholder after these transactions.

The terms of the transaction, which is expected to close in Q1 2024, subject to customary closing conditions and regulatory approvals, have not been disclosed.

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