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H.I.G. Capital Announces Closing of Significantly Oversubscribed $2 Billion U.S. Lower Middle Market Fund, H.I.G. Capital Partners VII

Published

4 weeks ago

October 28, 2024

MIAMI, Oct. 28, 2024 /PRNewswire/ — H.I.G. Capital (“H.I.G.” or the “Firm”), a leading global alternative asset management firm with $65 billion of capital under management, today announced the closing of H.I.G. Capital Partners VII (“Fund VII”). Significantly oversubscribed, Fund VII closed with $2 billion of capital commitments and continues the Firm’s highly successful strategy of making control equity investments in U.S. lower middle market companies.

Since its founding in 1993, H.I.G.’s private equity platform has invested in middle market companies with elements of business, industry, or transactional complexity that represent significant opportunities for asymmetric risk / return. The Firm is one of the largest and most active investors in the middle markets and invests across a family of private equity funds focused on the U.S., Europe, and Latin America.

Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-Executive Chairmen, commented, “We have been disciplined in maintaining our middle market focus and are extremely proud of the consistent results we have delivered for our investors. Fund VII is well positioned to deliver the same strong performance as its predecessor funds driven by our scale, operational capabilities, and value-creation playbook.”

Ricky Stokes, Managing Director and Head of H.I.G. Capital Partners U.S., said, “Our dedicated team of 68 professionals is capitalizing on opportunities in today’s macroeconomic environment. The current market volatility plays to H.I.G.’s strengths of managing complex dynamics through market cycles, and our scale and operational expertise give our team an advantage in capturing opportunities; Fund VII’s pipeline is stronger than ever.”

Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation, remarked, “Fund VII was significantly oversubscribed by H.I.G.’s existing base of investors who have been longstanding supporters of the Firm and share our commitment to the middle market. Their support has extended beyond Fund VII as investors actively seek opportunities in the more attractive middle market space across private alternatives. We are grateful for their continued partnership which has enabled the closings of four H.I.G. funds in 2024 to date, including Fund VII, as well as H.I.G. Advantage Buyout Fund II, H.I.G. Europe Realty Partners III, and H.I.G. Infrastructure Partners I.”

Fund VII received strong support from a diverse group of limited partners, including sovereign wealth funds, public and corporate pensions, insurance and financial institutions, foundations, endowments, family offices, and consultants in North America, Europe, the Middle East, and Asia.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $65 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, 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 $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and affiliates.

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