H.I.G. Bayside Capital, the distressed debt and special situation affiliate of H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over $31 billion of equity capital under management**, announced the final closing of H.I.G. Bayside Loan Opportunity Fund V (Europe) (the “Fund”). The Fund closed with aggregate capital commitments of $1.5 billion*, exceeding its target. The Fund will continue H.I.G.’s successful investment strategy of focusing on investments in small-cap, special situation credit opportunities in Europe. With offices in London, Hamburg, Madrid, Milan and Paris, H.I.G. Capital believes it has the largest platform in Europe focusing on investing in the lower end of the capital markets.
Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G., commented: “We are delighted with the strong response by our limited partners, which reflects their confidence in the capability of our team and our differentiated strategy.”
John Bolduc, Executive Managing Director and head of H.I.G. Bayside Capital, commented: “Economic conditions in Europe remain challenging, especially for smaller businesses. Our pan-European credit team is well positioned to address this need and capitalize on the compelling investment opportunities available in the European credit markets. We have already committed 38% of the Fund in European special situation opportunities.”
Added Jordan Peer, Head of H.I.G. Capital Formation, “The Fund received strong global support in North America, Europe and Asia from institutional investors including consultants, endowment, foundations, sovereign wealth funds, financial institutions and public and corporate pensions. We are grateful for these long-standing partners for their commitment to multiple H.I.G. Bayside strategies, globally.”
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $31 billion of equity capital under management.** Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta and Stamford in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, Bogota 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:
1. 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.
2. 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.
3. H.I.G.’s real assets 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.
* Including commitments from the Fund’s general partner and related parties, as well as related separately managed accounts.
** Based on total capital commitments managed by H.I.G. Capital and affiliates.
Executive, Managing Director
Jordan S. Peer
Managing Director, Capital Formation