H.I.G. Capital has held a final closing of H.I.G. Bayside Loan Opportunity Fund III (Europe). Total capital commitments to the new fund exceeded its $1 billion target.
“The bank deleveraging process in Europe has resulted in tight credit conditions, especially for smaller businesses. Our strong credit team in Europe is very well situated to address this need and to capitalize on the compelling investment opportunities available in the European loan markets today,” said John Bolduc, Executive Managing Director of H.I.G. Bayside
The new fund will invest primarily in debt obligations of small and medium-sized European companies. Both existing loans acquired on the secondary markets as well as newly originated primary loans will be considered.
Bayside Capital is an affiliate of H.I.G. Capital and has approximately $4.5 billion of capital under management. Bayside invests in middle-market companies across a spectrum of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. Typical investment size ranges from $10 million to $100 million. The firm has twelve offices throughout the U.S. and Europe and is based in Miami (www.bayside.com).
“We are gratified by the continued support of our investors, which will allow us to continue to pursue this attractive credit strategy,” said Sami Mnaymneh and Tony Tamer, co-founders and Managing Partners of H.I.G. Capital.
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-16-13