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Mercury renames itself HgCapital

The UK private equity firm has changed its name and appointed Leonard Licht as Chairman.

Mercury Private Equity has been renamed HgCapital.

HgCapital has a portfolio of investments valued at about E700m and committed funds under management of more than E1bn. It focuses on healthcare, business services, media and information & communications technology industry sectors. It specialises in leveraged buyouts within these sectors.

HgCapital has invested in Trados, VTSI, PII Group, Dechra Pharmaceuticals, Orbis, Patientline, Newchurch, Comnitel Technologies, Greycoat Estates, Raymarine, Luxfer, LLP Group, Belfast International Airport, Luminar, and NTL Group.

At the same time as changing its name, the firm has also appointed Leonard Licht as Chairman. Licht is a former vice-chariman of Mercury Asset Management Group plc. He left Mercury in 1992 to work at Jupiter Tundall plc.