Carlyle leads debt funding of Hg’s investment in Prophix

Carlyle Group's global credit platform led and structured a debt financing package to support Hg Capital's previously announced majority investment in Prophix Software.

Carlyle Group’s global credit platform led and structured a debt financing package to support Hg Capital’s previously announced majority investment in Prophix Software. No financial terms were disclosed. Mississauga, Ontario-based Prophix is a provider of corporate performance management software.


NEW YORK, NY, February 2, 2021 – Global investment firm The Carlyle Group (NASDAQ: CG) today announced that its Global Credit platform led and structured the debt financing package to support Hg’s previously announced majority investment in Prophix Software (‘Prophix’), a leading provider of planning, budgeting and financial reporting software for mid-market companies across multiple industries worldwide.

Hg’s investment is expected to accelerate and scale Prophix’s growth and fund further development of its product capabilities.

Carlyle’s middle market lending strategy, Carlyle Direct Lending, acted as sole administrative agent, joint lead arranger and joint bookrunner on the multi-currency, annual recurring revenue (ARR)-based financing. Carlyle’s direct lending team is an active provider of private credit solutions across the capital structure, including senior secured loans, unitranche loans and junior debt.

Kunal Gulati, a Principal of Carlyle’s Global Credit platform, said, ‘We are pleased to have led this transaction for Hg, a proven leader in the software space, and look forward to supporting Prophix management’s strategic vision and continued growth.’

Headquartered in Ontario, Canada, Prophix helps midmarket companies achieve their goals more successfully with its innovative Corporate Performance Management (CPM) software. With Prophix, finance leaders can improve profitability and minimize risk by automating budgeting, planning and reporting. For more information, please visit the Company’s website

Financial terms of the transaction were not disclosed.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 30 offices across six continents. Further information is available at Follow Carlyle on Twitter @OneCarlyle.

About Hg
Hg is a leading European investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $30 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 30 operators, providing practical support to help our businesses to realize their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 30 software and technology businesses, worth over $60 billion aggregate enterprise value, with over 35,000 employees globally. For further details, please visit the Hg website: