Software investor Hg is making a significant hire as it expands its North American reach.
The firm said today it’s hiring ex-Vista Equity executive Alan Cline to lead its activity in North America. Cline left Vista in 2021 after spending more than a decade at the firm, first building up its middle-market focused Foundation funds and then co-leading its smaller-market Endeavor strategy. He worked on Vista’s acquisitions of software firms like Accruent, Autotask Corp, LogicMonitor and Bullhorn, Reuters reported.
Cline will join Hg’s senior leadership team and share management responsibilities. The firm has about $55 billion of assets under management and invests globally, with about two-thirds of its portfolio comprising businesses that work with customers in both North America and Europe. Hg raised more than $20 billion in the last 12 months.
Hg already has offices in New York and San Francisco with investments teams from its three fund families working alongside portfolio support capabilities and executive networks, the firm said.
“We are pleased with our transatlantic record in the last few years and Alan will be instrumental in leading the build out of more capability and reach in the next decade,” Matthew Brockman, managing partner at Hg, said.