MIAMI–(BUSINESS WIRE)–Sep. 12, 2023
H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with $58 billion of capital under management, is pleased to announce the closing of H.I.G. Middle Market LBO Fund IV (the “Fund”). The Fund closed with aggregate capital commitments of $5.5 billion, in addition to co-investment separately managed accounts of $450 million, significantly exceeding its original target.
The Fund will build on the team’s deep-rooted track record by primarily making control equity investments in complex situations in U.S. middle market companies with asymmetric risk/reward profiles and a differentiated value proposition.
Sami Mnaymneh and Tony Tamer, co-Founders and co-CEOs of H.I.G., commented: “We are delighted with the continued support from our investors, reflecting the strong performance of the H.I.G. Middle Market team and its differentiated investment approach. We are confident that our unique platform will continue to set us apart in this space.”
Keval Patel, Head of H.I.G. Middle Market, commented: “We are excited to build upon H.I.G.’s successful middle market strategy with this latest fund. Our scale and operational expertise dedicated to the middle market continue to create a meaningful competitive advantage for us and allow us to drive significant returns to our investors regardless of the macroeconomic environment.”
Added Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation, “The resounding support of our limited partners led to a successful fundraise that was meaningfully oversubscribed during a very difficult fundraising environment. It is a testament to our investors’ high level of confidence in H.I.G., our investment strategy, and our ability to consistently source attractive investments and generate outstanding returns.”
The Fund was supported by H.I.G.’s long-standing investor base, and also welcomed new investors across the globe, in the U.S., Europe, Asia, Middle East and Latin America. The Fund’s Limited Partners are a diverse and prestigious group of institutional investors including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $58 billion of 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 middle market 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. also 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.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $52 billion. For more information, please refer to the H.I.G. website at www.higcapital.com
* Based on total capital raised by H.I.G. Capital and affiliates.
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Jordan Peer Griffin
Executive Managing Director
Head of H.I.G. Middle Market