Can anything shut down the Gold rally?
LONDON - HgCapital Trust plc (LSE:HGT) will invest approximately £17 million in Payworks, a Canadian workforce management software provider, according to a press release statement issued Monday.
The investment is part of a larger transaction by Hg, the manager of HgCapital Trust, through its Hg Genesis Fund. The financial terms of the overall deal were not disclosed.
Payworks, based in Winnipeg, provides human capital management solutions to Canadian employers. The company has been operating for 25 years and employs more than 600 people across Canada.
The investment will not change Payworks’ operations in Canada, with its network of offices continuing to support Canadian businesses.
"The Payworks ownership group is excited to welcome Hg to our partnership. Their investment enables us to accelerate our innovation and value creation agenda," said Barbara Gamey, Co-founder of Payworks, in the press release.
HgCapital Trust’s liquid resources available for future deployment are estimated to be £366 million, representing 15% of its estimated NAV of £2.5 billion as of June 30, 2025. The investment will reduce HgT’s outstanding commitments to invest in Hg transactions to approximately £1.7 billion.
HgCapital Trust is scheduled to announce its interim results to June 30, 2025, on September 15.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.