- Investment company Hg said it had agreed to acquire holdings in German human resources software company Personal & Informatik from funds advised by private equity firm Permira, for an enterprise value of €2bn.

Permira funds would remain invested in Personal & Informatik with a 'substantial' minority stake.

HgCapital Trust, which is managed by Hg, would invest about £37.7m in Personal & Informatik, with other institutional clients of Hg investing alongside the company through the Hg Saturn 1 Fund.

Further terms of the transaction were not disclosed.

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