H.I.G. Capital Closes $3.1 Billion H.I.G. Middle Market LBO Fund III Above Target
MIAMI – November 19, 2019 – H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with over $34 billion of equity capital under management, is pleased to announce the closing of H.I.G. Middle Market LBO Fund III (the “Fund”). The Fund closed with aggregate capital commitments of $3.1 billion, well exceeding its target. The Fund will continue the strategy of H.I.G. Middle Market’s two predecessor funds, by making private equity investments in middle market companies, primarily in North America.
Sami Mnaymneh and Tony Tamer, Founders and Co-CEOs of H.I.G., commented: “We are pleased with the level of support received from our investors, reflecting the strong performance of the H.I.G. Middle Market team and its differentiated investment approach.”
Rick Rosen, Head of H.I.G. Middle Market, commented: “The team is excited to build upon H.I.G.’s successful middle market strategy with this latest fund. We will continue to target control investments in complex situations and/or undermanaged middle market companies. H.I.G.’s scale and operational expertise continue to create a meaningful competitive advantage for us.”
Added Jordan Peer, Head of H.I.G. Capital Formation, “The Fund received overwhelming support from H.I.G.’s long-standing Limited Partners. Commitments were received from a prestigious and diverse institutional investor base, including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices across the U.S., Europe, Asia, and the Middle East.”
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $34 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro 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 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 estate 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.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.