H.I.G. Capital Closes H.I.G. Growth Buyout & Equity Fund III at $970 Million
MIAMI – October 18, 2018 – H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with $28 billion of equity capital under management, announced the closing of H.I.G. Growth Buyouts & Equity Fund III (the “Fund”). The Fund closed with aggregate capital commitments of $970 million,* exceeding its target. The Fund will continue H.I.G.’s successful strategy of making investments in growth buyouts, as well as structured equity, in high-growth, small-cap companies primarily in North America.
Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G., commented: “We are pleased with the successful fundraise for H.I.G.’s third growth equity fund. H.I.G. Growth Equity’s strong performance and continued support from our investor base enabled us to close the Fund rapidly, reflecting our investors’ strong faith in our differentiated strategy.”
John Black, Head of H.I.G. Growth Equity, commented: “We are excited to continue the successful strategy of H.I.G. Growth Equity with our latest fund, as we build on our dedicated team’s experience in growth buyout and equity investing across relevant technology verticals. H.I.G.’s global presence and vast resources focused on small-cap businesses aid in driving growth and value in our investments. As businesses across industry verticals work to incorporate technology into their operations, entrepreneurial small companies with disruptive technology seeking sophisticated financial partners will find H.I.G. Growth Equity to be a uniquely beneficial partner.”
Added Jordan Peer, Head of H.I.G. Capital Formation, “The strong response from our investors reflects their confidence in the capability of our team as well as our continued success of investing in differentiated strategies. The Fund is supported by a prestigious and diverse institutional investor base, including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices in North America, Europe, Asia and the Middle East.”
The Fund will focus on technology-oriented businesses in verticals where H.I.G. has extensive experience, including tech-enabled business services, software, digital ad-tech, e-commerce/consumer, online/internet services, healthcare and industrial technology in North America.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $28 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, Mexico City, 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 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 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.
* Includes commitments from the Fund’s general partner and related parties.
** Based on total capital commitments managed by H.I.G. Capital and affiliates.