Interview with Nic Humphries, Head Partner and Executive Chairman of Hg

In this interview, Nic Humphries, Senior Partner and Executive Chairman of Hg, discusses the history and transformation of Hg a European specialist in buyout . Initially positioned as a multi-sector mid-market private equity firm, Hg gradually Hg its strategy Hg focus on B2B software and technology services. This repositioning was based on a simple observation: to remain competitive in an increasingly mature private equity market, it was necessary to become a recognized specialist rather than a generalist player.Hg now distinguishesHg through strong sector discipline, in-depth knowledge of software sub-segments, and significant scale across Europe. This specialization enables Hg to track companies over several years, build strong convictions, and access high-quality transactions. It is also supported by a large in-house operational team composed of specialists from the software industry, capable of supporting portfolio companies on topics such as cybersecurity, the cloud, growth, and operational improvement. The interview illustrates this approach through several flagship investments. IFS, a provider of ERP software for asset-intensive industries, reflects Hg ability Hg identify critical software in transition to SaaS. Access illustrates a strategy of organic growth and acquisitions in vertical industry software. Finally, Visma demonstrates the power of a recurring, mission-critical software model capable of sustaining long-term growth through organic expansion and M&A. Nic Humphries also emphasizes that the current environment favors selective investors capable of identifying high-quality companies, even if exits are more complex. Recurring, predictable, and mission-critical software companies remain attractive to both financial and industrial buyers, even in more uncertain markets. In the long term, the private equity market is expected to continue consolidating. In this context, Hg to remain a premium, specialized, and globally recognized player by focusing on a limited number of very high-quality opportunities rather than seeking to cover everything.