Mercury Private Equity has changed its name to HgCapital following its breakaway from Mercury Asset Management.
HgCapital – which was chosen because Hg is the chemical symbol for mercury – has a portfolio valued at £426m. It invests in European private equity in the healthcare, business services, media and information and communications technology sectors.
Former Mercury Asset Management vice-chairman Leonard Licht will become the new chairman of HgCapital.
HgCapital chief executive Ian Armitage said: “Our business is constantly evolving and our development will continue under the name of HgCapital. We will build on our newly acquired independent status expanding our business further into the European arena.”
He added: “I am delighted that Leonard Licht will be joining HgCapital as chairman. Our business will benefit enormously from Leonard’s wealth of experience of the investment arena and he will be a great asset to us as we move forward.”
By Michael Schiniou
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