Overview of the HG 4 and Mercury 2025 Funds

Hg now one of the most specialized and dominant players in European private equity within the software sector. Founded in 1990, the investment firm has over 35 years of experience and has gradually refined its strategic positioning to become a pure-play specialist in LBO . This decisive turning point came in 2012, when the management team chose to abandon other sectors to focus exclusively on software publishers, a decision that proved particularly value-creating. Hg organization Hg on three complementary fund lines, each targeting a specific market segment. Mercury invests in the core of the mid-market, Genesis targets the upper end of the mid-market, while Saturn—whose Saturn IV fund is part of the Altaroc Odyssey fund—targets large-cap companies. This structure allows Hg cover a broad spectrum of opportunities while maintaining highly specialized sector expertise. Hg strength Hg notably in its size and positioning. In Europe, the firm is roughly three times larger than its tech competitors, giving it a major competitive advantage. It benefits from privileged access to the best investment opportunities thanks to an extensive network of experts and exceptional sourcing capabilities. This strength is also reflected in the operational support provided to portfolio companies, where Hg specialized resources to accelerate value creation.Its investment strategy is particularly disciplined. Hg market-leading companies characterized by highly recurring revenues, high EBITDA margins—often exceeding 40%—and a strong competitive position. This model combines growth, resilience, and cash flow visibility, three essential pillars of private equity performance.Finally, the relationship between Hg Altaroc strong and long-standing. Altaroc already invested in two of its funds in 2022 and has participated in several high-quality co-investments over the course of recent Odyssey funds. This close relationship enhances access to attractive opportunities and confirms Hg positioning Hg a leading partner in building high-performing portfolios.