AI Fears Slam HG Capital's Private Equity Tech Portfolio
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Hg Capital Trust has reduced the value of most of its largest investments in Q1 2026, citing concerns over software sector valuations linked to AI. The firm reported a 5.4% drop in net asset value and a 9% decrease in portfolio valuations, with 14 of its 20 largest positions marked down. Hg's investment in IFS fell by 7%, and its stake in Howden decreased by 9%. The sell-off reflects broader fears about AI's disruptive potential in the software industry, impacting various businesses indiscriminately.
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