H.I.G. Capital Closes $1.4 Billion Bayside Loan Opportunity Fund
MIAMI – March 8, 2021 – H.I.G. Bayside Capital, the distressed debt and special situation affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with over $43 billion of equity capital under management, is pleased to announce the final closing of H.I.G. Bayside Loan Opportunity Fund VI (the “Fund”). The Fund closed with aggregate capital commitments of $1.4 billion,* exceeding its target.
Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G. Capital, commented: “The Fund will continue H.I.G.’s successful investment strategy of focusing on investments in U.S. small and midcap special situation credit opportunities. We are thrilled with the strong response by our limited partners, which reflects their confidence in the capabilities of our team and our differentiated approach.”
John Bolduc, Executive Managing Director and Head of H.I.G. Credit, commented: “Economic conditions remain challenging, especially for smaller businesses. Our credit team is well positioned to address this need and capitalize on the compelling investment opportunities available. The Fund began investing in 2020 against the backdrop of the COVID-19 pandemic, and is already approximately 25% invested.”
Jordan Peer, Global Head of H.I.G. Capital Formation, added: “The Fund received strong global support in North America, Europe, and Asia from a prestigious and diverse institutional investor base including consultants, endowments, foundations, sovereign wealth funds, financial institutions, and public and corporate pensions.”
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $43 billion of equity capital under management.** Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, and Stamford in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, Bogota, and São Paulo. H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in growth investments, management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real assets funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Including commitments from the Fund’s general partner and related parties, as well as related separately managed accounts.
** Based on total capital commitments managed by H.I.G. Capital and affiliates.