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Exits
.jpg "HgCapital delivers 3.3x on second Mercury exit")
The £380m TMT fund will have returned nearly 40 percent of invested cost.
A strong year of exits was led by the refinancing of discount retailer Action which delivered a multiple of more than 20x.
The sale brings the UK firm’s overall return from its investment in AXIO up to 5x.
The listed German investor has sold the engineering business to China's Truking Group.
The sale comes as the firm continues to seek capital for its tenth buyout fund.
The sale of the compressor maker to Japan's Nidec is the firm's largest-ever exit.
This is the 12th exit from HgCapital 6, which has now delivered overall realised returns of 2.3x.
Part of the capital for the acquisition of Key Retirement Group will come from Partners Group Direct Investment 2016, which is seeking €2 billion.
The Northern England-focused firm has sold Fine Industries to a Chinese-listed life sciences company.
The healthcare specialist has more than doubled its money on health ingredients company HIS in less than one year.