Report: Hg Capital-S64 Tech Fund Caps Subs After Raising €750M

The fund Hg Capital established in partnership with UK technology platform S64 is capping subscriptions after raising €750M following Hg’s team-up with UBS, Citywire reported January 13, citing Martina Sanow, head of Hg Wealth.

Sanow said the technology-focused investment firm was originally targeting a "few hundred million" for the Hg Fusion fund, which is an open-ended, long-term fund providing non-US individuals with the ability to access Hg’s funds, in addition to co-investments in companies alongside Hg funds. Due to high demand, she said the firm had to cap subscriptions to guarantee a realistic return for investors.

Hg Fusion was structured as part of Hg's UCI Part II strategy. The fund initially raised €500M but assets grew after Hg inked a partnership with UBS intended to expand the distribution of the firm's new semi-liquid strategy. Sanow said Hg also capped the amount that will be made available on the UBS platform, amid the heightened demand for the fund. "We've been fortunate with the deal flow we've seen so far and we have a queue going into 2025," she told Citywire.

Written By: Dakota

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