HgCapital Trust PLC announced on Monday that it will sell its remaining investment in enterprise software firm TeamSystem. The sale is part of a broader disposal managed by Hg, with the buyer being funds advised by Hellman & Friedman LLC.

The transaction values HgCapital's investment in TeamSystem at approximately GBP24.3 million. This represents a 10% increase over the carrying value of GBP22.1 million in HgCapital's net asset value as of March 31.

HgCapital initially invested in TeamSystem in 2010 as a majority shareholder. In 2016, Hellman & Friedman acquired a majority stake in the company. HgCapital highlighted the successful partnership with TeamSystem's management and Hellman & Friedman, which has helped TeamSystem become a leading business software solutions provider in Italy, Spain, and Turkey.

Following the announcement, HgCapital shares rose by 0.6% to 487.94 pence each on Monday morning in London.

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