One of the early employees of Vista Equity Partners, Alan Cline is joining Hg as head of North America with the aim of leading the firm’s activity in the U.S. and Canada.
He brings with him more than two decades of experience as a software investor, having left Vista Equity in December 2021. Cline is credited with building the Foundation Fund within Vista and is based in Austin, Texas.
“We are delighted that Alan is joining our firm. We have known Alan and admired his work for many years and know him to be a great cultural fit, who is closely aligned to our strategy and purpose,” said Matthew Brockman, managing partner at Hg. “This is a transformational appointment at the right time for Hg as we look to stretch our leadership position as one of the leaders in software private equity. 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.”
With $55 billion in assets under management, the firm has raised more than $20 billion of fresh fund capital over the last 12 months. Hg has a portfolio of over 46 software and technology businesses, worth over $100 billion aggregate enterprise value, with over 90,000 employees globally, growing revenue at more than 20% per year.
“Hg is a world-class firm in software investment and the firm’s trajectory and performance over recent years has been truly outstanding,” said Cline in a statement. “The opportunity to work with the leadership team and wider Partner group at Hg is exciting and presents an unparalleled opportunity to use my experience to further grow Hg’s capabilities. From great foundations, I look forward to building these capabilities in USA and Canada and to further defining Hg as an industry leading firm.”
Cline joins the senior leadership team of Hg and will share firm management responsibilities as part of an important evolution of the business. Besides its active work within Europe, Hg also has offices in New York and San Francisco with investment teams from each of its three funds working alongside considerable portfolio support capability and deep executive networks.