KKR to acquire Gen II Fund Services for more than $5 billion from Hg and GA
"Gen II has become one of the most respected platforms in private capital administration, and we're proud of the role we've played alongside management and General Atlantic. Together we built a leadership team equipped to run a much larger, global business, and partnered on four acquisitions that took Gen II into new sectors, asset classes and services.”
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Welcome to Hg’s monthly update, designed to keep you updated with news from Hg and our
network of portfolio companies. Follow us on LinkedIn.
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Three years ago, Hg became one of the first private equity firms to work directly with a frontier AI lab. We're deepening that relationship with Anthropic, bringing Claude's agentic capabilities across the entire Hg portfolio. Read more
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"This investment reflects our confidence in the Greek market and our commitment to building an enduring, AI-enabled software champion in the region.” Read more
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It was great to hear from leading women across our industry, including Hg Partner, Tara Anand Carter, who joined a panel on how AI will impact private equity by 2031 - reflecting on the impact so far and looking ahead to how it will evolve in the coming years. Read more
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We brought together forty founders and CEOs from leading Nordic software and AI companies in Stockholm, co-hosted with Rothschild & Co. Speakers included Peter Sarlin and Lovable's Fabian Hedin. Data foundations, not models, emerged as the real adoption bottleneck, and Europe's opening lies in vertical AI. Read more
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In partnership with F1RST, nearly 100 university students spent the day at Lovable's new office in Stockholm, testing what's possible when you build with AI. Students worked hands-on with Lovable's platform and will keep access to it so they can carry on building their own projects. Read more
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LISTENING & READING RECOMMENDATIONS
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Andreessen Horowitz:
State of Markets II
a16z's David George argues that tech is now the market's "everything cycle", contributing around 76% of S&P 500 earnings growth in 2026, while public software has been repriced as only 30% of companies grow 20%+.
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Capital Ideas:
Investing through the AI transition
Equity portfolio manager Brady Enright, who invested through the dot-com era, argues that the fundamentals of investing hold through technological change, and that the aim is to identify which companies are on the right side of it rather than to predict every winner.
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Grant Watling and Dhruv Sethi argue that AI's usage-based model has flipped the incentive: going live isn't the finish line anymore, generating value is.
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Improve the harness around a coding agent, and you get more performance for less cost. But what if the harness could improve itself? Balaj Saleem from hg catalyst has been testing that theory, with promising early results.
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Matthew Brockman on the "Where Europe Wins: The AI Opportunity" panel at Boardwave Live 2026, part of a wider discussion built on Boardwave's new report with McKinsey & Company, which argues that Europe can still develop a strong position in the AI race.
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Nic Humphries, Senior Partner and Executive Chairman, joins Bloomberg to discuss why product innovation is central to value creation and exits, how public markets understand the impact of AI on software, and the evolution of the PE industry as it matures.
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Three new AI agents cutting regulatory noise, answering compliance queries and tracking enforcements in real time. Read more
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Litera has launched Foundation Firm AI Search as a plugin within ChatGPT Enterprise, letting lawyers query their firm's experience and relationship data in natural language - directly inside ChatGPT. Read more
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“At Blinqx, our ambition is to be an AI frontrunner in the Benelux by bringing agent-based work to our (largely regulated) markets in an accessible, secure, and enjoyable way. To do that, you also need the very best people in your organization.” Read more
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