PE Firm Hg Marks Down Fund Value by 9% After Software’s Plunge

Private equity firm Hg marked down the portfolio value of one of its funds by 9% in the first quarter after software valuations fell to a 20-year low, highlighting concerns...

By Neil Callanan · Bloomberg Markets

Private equity firm Hg marked down the portfolio value of one of its funds by 9% in the first quarter after software valuations fell to a 20-year low, highlighting concerns that artificial intelligence will deal a huge blow to the industry.