SGT Capital GP S.à r.l. Initiates Legal Action for Recovery of EUR 3,820,563.30 from TGS24 Capital (Subsidiary of PGH)

SGT Capital GP S.à r.l. has initiated legal proceedings in Luxembourg to recover EUR 3,820,563.30 of SGT Capital GP’s own money, which was wrongfully retained by TGS24 Capital Pte. Ltd., a wholly owned subsidiary of The Payments Group Holdings (PGH), following the separation between the parties.

On 14 October 2024, various SGT Capital GPs issued clawback demands for the return of a total of EUR 9,989,792.88, which TGS24 was obligated to return to the relevant SGT Capital GPs. On 1 November 2024, various SGT Capital GPs issued default notices for the return of a total of EUR 9,989,792.88, which TGS24 was obligated to return to the relevant SGT Capital GPs.  As these amounts remained outstanding and payable beyond the agreed payment date, TGS24 remains in default of its obligations, leading to the commencement of the Luxembourg legal action for recovery.

This legal action pertains solely to funds belonging to the general partners in their personal capacity and has no impact on the funds or the operations of the SGT Capital group.

About SGT Capital

SGT Capital Group is a global private equity firm that generates top decile performance for its investors by driving the internationalisation of mid-cap market leading businesses in combination with more traditional private equity value creation strategies. With offices and portfolio company presence in London (United Kingdom), Zug (Switzerland), Frankfurt (Germany), Dubai (UAE), San Francisco (CA, USA), and Singapore, SGT Capital is led by Joseph Pacini, Carsten Geyer, Dr Marcel Normann, Marianne Rajic and Jens Dino Steinborn. The principals of SGT Capital are seasoned professionals from market leading private equity, asset management, investment banking, and consulting firms, bringing over 100 years of investment experience and experience in managing more than USD$ 35 billion in alternative assets under management.

For further inquiries, please contact:investor-relations@sgt-capital.com