HgCapital NAV up, share price down
HgCapital Trust, HgCapital's listed vehicle, has reported NAV growth but a falling share price in its interim results for the six months ending 30 June 2012.
The firm's net asset value has increased by 7.4%, while share price has fallen by 6.1%.
The GP completed three exits during the period: the sale of psychometric testing company SHL for $660m, which saw it reap a 3.1x multiple and 26% IRR; an exit from its UK wind farm platform to Munich Re; and the sale of Mercury Pharma to Cinven, which saw the GP enjoy a 4.1x multiple.
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