Leadership Statement
Matthew Brockman
Managing Partner at Hg
While a slower year for PE generally, 2023 remained a strong year for Hg as the performance of our resilient family of software and services companies reflected strong foundations. Our long-term approach to business growth has made a significant contribution to this; creating responsible businesses for the future, sustaining investment in products that delight customers and creating quality employment opportunities.
It is important to us that our purpose has an equally long-term horizon – “To improve the future of millions of investors by building sustainable businesses for tomorrow”. We work for the millions of individual investors whose pension, savings, or endowment capital we invest. Our purpose is shared with every person that joins our firm and across thousands of the employees that work within Hg portfolio companies, who hear directly from the pension programs and endowments that support our business. We will continue to deliver on this purpose if we are investing responsibly.
This report highlights some of the achievements made possible by our people collaborating with a strong sense of purpose. From tackling climate change by advocating for our portfolio companies to set science-based targets, to supporting over 50,000 people from disadvantaged and underrepresented backgrounds in accessing careers within the technology industry through The Hg Foundation, we take our responsibility as investors in this sector seriously.
We continue to learn and improve each year though, to evolve how and where we impact. And ensuring that responsibility to our investors, to portfolio employees, and my own colleagues, is embedded into the ethos of everything we do.
Hg at a glance
Hg is a leading investor in European and Transatlantic software and service businesses. We support the building of sectorleading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers. This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Our support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well. With a vast European network and strong presence across North America, our 400 employees and c.$70bn in funds under management support a portfolio of around 50 businesses, worth over $140 billion+ aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20% annually.
funds under management
aggregate EV
employees across London, Munich, New York, and San Francisco
clients
employees across the portfolio
LTM employee growth across the portfolio1
portfolio revenue growth2
portfolio EBITDA growth LTM2
donated via the Hg Foundation
donated to charitable giving via Hg Giving
volunteering hours
female employees
female employees in Hg's investment team
Glassdoor score
nationalities
eNPS
UNPRI signatory since 2012 Private Equity
UNPRI signatory since 2012 Investment Stewardship3
Further reading
1 Reported
2 These figures represent LTM 31 March 2024 sales and EBITDA growth of the top 20 investments held by HgCapital Trust plc (c.78% of the Hg portfolio), calculated on a weighted basis, based on the respective gross valuations of the underlying investments. HgT, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg’s investments
3Hg scores: **** (89/100) for Investment & Stewardship & Policy, and ***** (96/100) for Private Equity. See links to Hg’s most recent 2022 transparency report and UNPRI’s methodology
