HGGC was recognized as the 2014 “Private Equity Firm of the Year” by Mergers and Acquisitions, a testament to the firm’s strong performance and resilience throughout a recent leadership change.
The technology-focused investor closed nine deals in 2014 and raised a new fund, even as it adjusted to a shift in management and branding.
HGGC began raising its second fund, HGGC Fund II LP, in January 2014, and announced a final close of $1.3 billion on March 2015. The firm has completed four investments from the fund so far in addition to five add-on acquisitions, according to M&A.
Today a team of four leads the rebranded HGGC, including three of the original firm’s founders.
Founded as Huntsman Gay Global Capital in 2007, the Palo Alto, California-based company changed its name to HGGC in 2013 following the departure of then-CEO Robert Gay in 2012. Jon Huntsman Sr., chairman of Huntsman Corp. and the other partner for whom the firm was named, was never involved in management.
Middle Market Growth profiled HGGC a year ago in the magazine’s May 2014 issue, detailing the firm’s investment in MyWebGrocer, an online grocery delivery service.
HGGC was recognized as part of M&A’s 8th Annual 2014 M&A Mid-Market Awards, the winners of which were announced in the magazine’s April 2015 issue.