H.I.G. Capital has held an above-target close of H.I.G. Capital Partners VI LP with aggregate capital commitments of $1.3 billion. Like its five prior funds, Fund VI will invest in lower middle-market companies, primarily in North America.
H.I.G. specializes in providing debt and equity capital to small and medium-sized companies and invests in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
“The new fund received overwhelming global support from our investors, allowing us to complete an entirely virtual fundraising process within a compact time frame of a few months,” said Jordan Peer, a managing director at H.I.G. and the global head of H.I.G. capital formation. “We are grateful for these long-standing partners across North America, Europe, the Middle East, and Asia.”
Founded in 1993, H.I.G. has invested in more than 300 companies and has a current portfolio of 100 companies with combined sales in excess of $30 billion.
“The current economic environment presents both challenges as well as opportunities, and we are very confident that our experienced team will be able to navigate through this uncertainty and find compelling investment opportunities,” said Doug Berman, the head of H.I.G. U.S. private equity.
“We are grateful for the continued support from our longstanding investors, reflecting the strong performance and differentiated investment approach of our lower middle market strategy throughout the course of H.I.G.’s 27-year history,” said Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-CEOs, in a released statement.
With the close of the new fund, H.I.G. now has more than $40 billion of equity capital under management.
H.I.G. is headquartered in Miami with additional 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
Private Equity Professional | September 30, 2020