H.I.G. Capital: Difference between revisions
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{{short description|US private equity and alternative assets investment firm}} |
{{short description|US private equity and alternative assets investment firm}} |
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{{Copy edit|date=May 2023}} |
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{{Infobox company |
{{Infobox company |
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| name = H.I.G. Capital, LLC |
| name = H.I.G. Capital, LLC |
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| image = 1450_Brickell_reflection.jpg |
| image = 1450_Brickell_reflection.jpg |
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| image_caption = Headquarters at [[1450 Brickell]] |
| image_caption = Headquarters at [[1450 Brickell]] |
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| type = [[ |
| type = [[Privately held company|Private]] |
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| key_people = [[ |
| key_people = {{ubl|Sami Mnaymneh ([[executive chairman]] and [[Chief executive officer|CEO]]) |
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|[[Tony Tamer]] (executive chairman) |
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|Rick Rosen (co-[[President (corporate title)|president ]] |
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|Brian Schwartz (co-president)}}<ref>{{cite web |title=HIG Capital reveals long-term succession planning by naming first co-presidents |url=https://www.altassets.net/private-equity-news/by-news-type/people-news/hig-capital-reveals-long-term-succession-planning-by-naming-first-co-presidents.html |date=December 4, 2019}}</ref><ref>{{cite web |title=H.I.G. Capital Founder and Co-CEO Tamer to step back |url=https://debtwire.ionanalytics.com/content/1003736776 |date=January 24, 2024}}</ref> |
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| industry = [[Private Equity]] |
| industry = [[Private Equity]] |
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| products = [[Private Equity]], [[Growth capital|Growth Equity]] |
| products = [[Private Equity]], [[Growth capital|Growth Equity]], [[Real Estate]], [[Lending]], [[Infrastructure]], [[Special situation]] |
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| aum = $ |
| aum = $66 billion |
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| foundation = {{start date and age|1993}} |
| foundation = {{start date and age|1993}} |
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| founder = {{ubl|Sami Mnaymneh|[[Tony Tamer]]}} |
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| location = [[Miami, Florida]], United States |
| location = [[Miami, Florida]], United States |
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| homepage = |
| homepage = {{url|http://hig.com/}} |
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}} |
}} |
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'''H.I.G. Capital''' is a |
'''H.I.G. Capital, LLC''' is a global alternative investment firm with $66 billion of capital under management.<ref>{{cite web |last1=Dorbian |first1=Iris |title=HIG Growth Partners invests in health tech firm Carebox |url=https://www.pehub.com/hig-growth-partners-invests-in-health-tech-firm-carebox/ |date=November 19, 2024}}</ref> Headquartered in [[Miami, Florida]], H.I.G. specializes in providing both [[debt capital|debt]] and [[equity capital]] to [[middle-market company|middle market companies]].<ref>{{cite web|url=https://hig.com/about|title=H.I.G. Capital - about|website=hig.com}}</ref><ref>{{Cite book |title=DB Private Venture Capital Investors Directory – II - 2014: Smart Money für smarte Unternehmer |publisher=Books on Demand |others=IAC Society Co. Ltd. (editor) |year=2014 |isbn=9783735748393 |pages=164 |language=de}}</ref><ref>{{cite news |date=4 August 2016 |title=Neuberger Berman's Dyal Capital Acquires Position in H.I.G. Capital |publisher=FINalternatives |url=http://www.finalternatives.com/node/33569l |url-status=dead |access-date=12 April 2020 |archive-url=https://web.archive.org/web/20160808015704/http://www.finalternatives.com/node/33569 |archive-date=8 August 2016}}</ref><ref>{{cite web |title=HIG Capital significantly expands credit platform |url=https://www.privateequitywire.co.uk/hig-capital-significantly-expands-credit-platform/ |format=Press release |date=October 7, 2011}}</ref> |
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⚫ | According to the firm’s website, H.I.G. has invested in and managed more than 400 companies, since inception. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion.<ref>{{cite web|url=https://hig.com/about|title=H.I.G. Capital - about|website=hig.com}}</ref><ref>{{cite news|url=https://www.wsj.com/articles/neuberger-bermans-dyal-capital-takes-stake-in-h-i-g-1470223802|title=Neuberger Berman's Dyal Capital Takes Stake in H.I.G.|first=Dawn|last=Lim|newspaper=Wall Street Journal|date=3 August 2016|via=www.wsj.com}}</ref><ref>"[https://www.altassets.net/private-equity-news/by-news-type/deal-news/hig-capital-backs-us-medical-supply-through-recap-deal.html?l=1 HIG Capital backs US Medical Supply through recap deal – AltAssets, August 21, 2015]</ref> H.I.G. currently has over 1000 total employees, including more than 500 investment professionals worldwide.<ref>{{cite web|url=https://hig.com/team|title=H.I.G. Capital - team|website=hig.com}}</ref> |
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==History== |
==History== |
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H.I.G. Capital was founded in 1993 by Sami Mnaymneh and [[Tony Tamer]], both of whom previously held senior positions at [[The Blackstone Group]] and [[Bain & Company]].<ref>{{cite web |title=H.I.G.'s Growth Tests Firm's Quest to Stay True to Its Roots - DHR International |url=https://www.dhrinternational.com/about/news-media/higs-growth-tests-firms-quest-stay-true-its-roots/ |archive-url=https://web.archive.org/web/20160714141929/https://www.dhrinternational.com/about/news-media/higs-growth-tests-firms-quest-stay-true-its-roots/ |archive-date=July 14, 2016 |website=www.dhrinternational.com}}</ref> The company remains under their directorship.<ref>{{Cite book |last=United States |first=Federal Communications Commission |title=FCC Record: A Comprehensive Compilation of Decisions, Reports, Public Notices, and Other Documents of the Federal Communications Commission of the United States |publisher=The Ohio State University (MORITZ LAW LIBRARY) |year=2017 |pages=10318}}</ref> In 2006, the company expanded to its first affiliate office in Europe, which is known as H.I.G. Europe.<ref name=":1">{{Cite book |last=Leleux |first=Benoît |title=Private Equity 4.0: Reinventing Value Creation |last2=van Swaay |first2=Hans |last3=Megally |first3=Esmeralda |publisher=Wiley |year=2015 |isbn=9781118939840 |pages=149 |language=en}}</ref> |
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H.I.G. was founded in 1993 by Sami Mnaymneh, formerly a managing director at [[The Blackstone Group]] and [[Tony Tamer]], previously a partner at [[Bain & Company]].<ref>{{cite web|url=https://www.dhrinternational.com/about/news-media/higs-growth-tests-firms-quest-stay-true-its-roots/|title=H.I.G.'s Growth Tests Firm's Quest to Stay True to Its Roots - DHR International|website=www.dhrinternational.com}}</ref> |
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Since its founding, H.I.G. has raised several funds, including most recently: |
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* H.I.G. WhiteHorse Principal Lending Fund (2020) – $1.1 billion fund focused on investing in senior secured financing solutions to primarily, off-the-run, sponsor-owned companies in North America<ref>{{cite web|url=https://www.businesswire.com/news/home/20200106005146/en/H.I.G.-WhiteHorse-Closes-Loan-Fund-1.1-Billion|title=H.I.G. WhiteHorse Closes Loan Fund at $1.1 Billion - Business Wire|website=www.businesswire.com|date=6 January 2020}}</ref> |
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* H.I.G. Middle Market LBO Fund III (2019) – $3.1 billion fund focused on making private equity investments in middle market companies, primarily in North America<ref>{{cite web|url=https://www.bloomberg.com/press-releases/2019-11-19/h-i-g-capital-closes-3-1-billion-h-i-g-middle-market-lbo-fund-iii-above-target|title=H.I.G. Capital Closes $3.1 Billion H.I.G. Middle Market LBO Fund III Above Target - Bloomberg|website=www.bloomberg.com}}</ref> |
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* H.I.G. Bayside Loan Opportunity Fund V (Europe) – $1.5 billion fund focusing on investments in small-cap, special situation credit opportunities in Europe<ref>{{cite web|url=https://www.bloomberg.com/press-releases/2019-06-18/h-i-g-capital-closes-1-5-billion-bayside-loan-opportunity-fund|title=H.I.G. Capital Closes $1.5 Billion* Bayside Loan Opportunity Fund - Bloomberg|website=www.bloomberg.com}}</ref> |
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* H.I.G. Advantage Buyout Fund (2018) – $3 billion fund focused on control equity investments in more stable, higher-quality companies with EBITDA between $25 million and $100 million<ref>{{cite web|url=https://www.privateequityinternational.com/h-i-g-capital-raises-3bn/|title=H.I.G. Capital Raises $3bn - Private Equity International|website=www.privateequityinternational.com|date=November 2018}}</ref> |
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* H.I.G. Growth Buyouts & Equity Fund III (2018) – $970 million fund focused on making investments in growth buyouts, as well as structured equity, in high-growth, small-cap companies primarily in North America<ref>{{cite web|url=https://www.marketwatch.com/press-release/hig-capital-closes-hig-growth-buyout-equity-fund-iii-at-970-million-2018-10-18|title=H.I.G. Capital Closes H.I.G. Growth Buyout & Equity Fund III at $970 Million - MarketWatch|website=www.marketwatch.com}}</ref> |
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* H.I.G. WhiteHorse Direct Lending Fund and H.I.G. WhiteHorse Loan Fund (2017) – $1.1 billion fund focused on investing in tailored, senior-secured financing solutions to non-sponsor and sponsor-owned companies in the U.S.<ref>{{cite web|url=https://www.marketwatch.com/press-release/hig-whitehorse-closes-loan-funds-at-11-billion-2017-07-05|title=H.I.G. WhiteHorse Closes Loan Funds at $1.1 Billion - MarketWatch|website=www.MarketWatch.com}}</ref> |
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* H.I.G. Realty Partners III (2017) – $593 million fund focused on value-add investments in small- to mid-cap properties in the United States<ref>{{cite web|url=https://www.pehub.com/h-i-g-realty-partners-iii-raises-593-mln/|title=H.I.G. Realty Partners III raises $593 mln - PE Hub|website=www.pehub.com/|date=9 May 2017}}</ref> |
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* H.I.G. Bayside Loan Opportunity Fund IV (2016) – $1.1 billion fund focused on investments in small-cap, special-situation credit opportunities in the United States<ref>{{cite web|url=http://www.pionline.com/article/20160706/ONLINE/160709957/hig-bayside-loan-opportunity-fund-iv-closes-at-11-billion|title=H.I.G. Bayside Loan Opportunity Fund IV closes at $1.1 billion|first=Meaghan|last=Kilroy|date=6 July 2016}}</ref> |
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* H.I.G. Brazil & Latin America Partners (2016) – $740 million fund focused on private equity, buyout, and growth-oriented investments in lower-middle market companies in Latin America, with a focus on Brazil<ref>{{cite web|url=http://www.finalternatives.com/node/32835|title=H.I.G. Capital Raises $740M For Latin America & Brazil Fund - FINalternatives|website=www.finalternatives.com}}</ref> |
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* H.I.G. Middle Market Fund II (2014) – $1.75 billion fund, focused on [[leveraged buyouts]] of middle market companies<ref>"[https://www.altassets.net/private-equity-news/by-news-type/fund-news/hig-capital-secures-1-75bn-for-new-mid-market-vehicle-in-fast-fundraise.html H.I.G. Capital Secures $1.75bn for New Mid-Market Vehicle in Fast Fundraise]." AltAssets, February 10, 2014</ref> |
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* H.I.G. Capital Partners V (2013) – $1.0 billion fund, focused on [[leveraged buyouts]] of small-capitalization companies<ref>"[https://www.pehub.com/2013/03/h-i-g-capital-closes-fund-v-1-bln/H.I.G. Capital Closes Fund V at $1 Bln]." PE HUB, March 4, 2013</ref> |
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* H.I.G. European Capital Partners II (2013) – €825 EUR million fund, focused on European [[leveraged buyouts]]<ref>"[http://www.finsmes.com/2013/07/h-i-g-capital-closes-european-fund-e825m.html H.I.G. Capital Closes H.I.G. Europe II Fund at EUR825 Million]." FinSMEs.com, July 7, 2013</ref> |
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* WhiteHorse VI, Ltd (2013) – $415.5 million [[collateralized loan obligation]] (CLO) fund focused on investing in the broadly-syndicated loan space |
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* H.I.G. Bayside Europe Loan Opportunity Fund III (2013) – $1.0 billion fund focused on secondary purchases of senior loans and new-issue loan originations in Europe<ref>{{cite web|url=https://www.businesswire.com/news/home/20100907007134/en/H.I.G.-Bayside-Capital-Closes-1.1-Billion-Loan|title=H.I.G. Bayside Capital Closes $1.1 Billion Loan Opportunity Fund|date=7 September 2010}}</ref> |
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* H.I.G. BioVentures II (2012) – $268 million fund, focused on pharmaceuticals, [[medical devices]], and diagnostics<ref>{{cite web|url=https://www.palico.com/funds/hig-bioventures-ii/f4971a61b95442e48432d1cbb4bb571d|title=HIG BioVentures II - Palico|website=www.palico.com}}</ref> |
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* H.I.G. Growth Equity Fund II, L.P. (2011) – $500 million fund, focused on strong, growth-oriented small-capitalization businesses<ref>{{cite web|url=https://www.pehub.com/2011/04/miami-shop-eyes-450-million-for-growth-buyouts/|title=Miami Shop Eyes $450 Million for Growth Buyouts - PE Hub|date=25 April 2011}}</ref> |
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==Products== |
==Products== |
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⚫ | H.I.G.’s equity funds invest in [[management buyouts]], [[recapitalizations]], corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses. The firm's debt funds invest in senior, [[unitranche debt|unitranche]], and junior debt financing to companies across the size spectrum, both on a primary (direct origination) and secondary basis, as well as in the secondary markets.<ref>{{cite web |last=Thangavelu |first=Poonkulali |date=July 14, 2017 |title=H.I.G Funds to Invest in Middle-Market Debt, Direct-Lending Opportunities |url=https://www.ai-cio.com/news/h-g-funds-invest-middle-market-debt-direct-lending-opportunities/ |website=Chief Investment Officer}}</ref> Additionally, H.I.G. also manages a publicly traded business development corporation ([[Business Development Company|BDC]]), WhiteHorse Finance.<ref>{{cite web |title=About - WhiteHorse Capital |url=https://whitehorsecapital.com/about/ |archive-url=https://web.archive.org/web/20220528074211/https://whitehorsecapital.com/about/ |archive-date=May 28, 2022 |website=whitehorsecapital.com}}</ref> |
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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. |
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⚫ | H.I.G.’s debt funds invest in senior, [[unitranche debt|unitranche]], and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as |
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Other H.I.G. funds invest in various real assets, including real estate and shipping.<ref>{{cite web|url=https://therealdeal.com/la/2017/05/11/h-i-g-closes-investment-fund-with-593m-secured/|title=H.I.G. closes $593M RE investment fund|date=11 May 2017}}</ref> |
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[[Jenny Craig, Inc.|Jenny Craig]] in the US was acquired by H.I.G. in 2019 for an undisclosed amount. In 2023 the company was placed into administration and declared bankruptcy.<ref>{{cite web|URL=https://www.abc.net.au/news/2023-06-07/jenny-craig-to-close-australia-new-zealand/102451450|title=Jenny Craig collapses in Australia and New Zealand after no buyer found for weight-loss company|date=7 June 2023}}</ref> |
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H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices. Its Infrastructure funds focus on making value-add and core plus investments in the infrastructure sector.<ref>{{Cite web |last=Gil |first=Julia |date=2023-11-03 |title=HIG Capital acquires two office buildings and a hotel in Madrid: advisors |url=https://iberianlawyer.com/hig-capital-acquires-two-office-buildings-and-a-hotel-in-madrid-advisors/ |access-date=2023-11-29 |website=Iberian Lawyer |language=en-US}}</ref><ref>{{cite web |date=11 May 2017 |title=H.I.G. closes $593M RE investment fund |url=https://therealdeal.com/la/2017/05/11/h-i-g-closes-investment-fund-with-593m-secured/ |website=The Real Deal}}</ref> |
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⚫ | According to |
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==Offices== |
==Offices== |
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The company is headquartered in [[Miami]] and has offices in [[New York City]], [[Boston]], [[Chicago]], [[Dallas]], [[Los Angeles]], [[San Francisco]], and [[Atlanta]] |
The company is headquartered in [[Miami]] and has affiliate offices in several major cities across the United States, including [[New York City]], [[Boston]], [[Chicago]], [[Dallas]], [[Los Angeles]], [[San Francisco]], and [[Atlanta]]. Additionally, the firm has international offices located in [[London]], [[Hamburg]], [[Madrid]], [[Milan]], [[Paris]], [[Luxembourg]], [[Bogotá]], [[Rio de Janeiro]], [[São Paulo]], [[Dubai]], and [[Hong Kong]].<ref>https://www.wsj.com/articles/h-i-g-taps-oaktree-ex-executive-for-capital-formation-group-in-hong-kong-1537289351</ref><ref>{{cite web |title=H.I.G. Capital contacts |url=https://hig.com/contact |website=hig.com}}</ref> |
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==References== |
==References== |
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==External links== |
==External links== |
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*{{official|http://www. |
*{{official|http://www.hig.com/ }} |
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{{private equity firms}} |
{{private equity firms}} |
Latest revision as of 16:29, 21 November 2024
Company type | Private |
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Industry | Private Equity |
Founded | 1993 |
Founder |
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Headquarters | Miami, Florida, United States |
Key people |
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Products | Private Equity, Growth Equity, Real Estate, Lending, Infrastructure, Special situation |
AUM | $66 billion |
Website | hig |
H.I.G. Capital, LLC is a global alternative investment firm with $66 billion of capital under management.[3] Headquartered in Miami, Florida, H.I.G. specializes in providing both debt and equity capital to middle market companies.[4][5][6][7]
According to the firm’s website, H.I.G. has invested in and managed more than 400 companies, since inception. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion.[8][9][10] H.I.G. currently has over 1000 total employees, including more than 500 investment professionals worldwide.[11]
History
[edit]H.I.G. Capital was founded in 1993 by Sami Mnaymneh and Tony Tamer, both of whom previously held senior positions at The Blackstone Group and Bain & Company.[12] The company remains under their directorship.[13] In 2006, the company expanded to its first affiliate office in Europe, which is known as H.I.G. Europe.[14]
Products
[edit]H.I.G.’s equity funds invest in management buyouts, recapitalizations, corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses. The firm's debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) and secondary basis, as well as in the secondary markets.[15] Additionally, H.I.G. also manages a publicly traded business development corporation (BDC), WhiteHorse Finance.[16]
H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices. Its Infrastructure funds focus on making value-add and core plus investments in the infrastructure sector.[17][18]
Offices
[edit]The company is headquartered in Miami and has affiliate offices in several major cities across the United States, including New York City, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta. Additionally, the firm has international offices located in London, Hamburg, Madrid, Milan, Paris, Luxembourg, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong.[19][20]
References
[edit]- ^ "HIG Capital reveals long-term succession planning by naming first co-presidents". December 4, 2019.
- ^ "H.I.G. Capital Founder and Co-CEO Tamer to step back". January 24, 2024.
- ^ Dorbian, Iris (November 19, 2024). "HIG Growth Partners invests in health tech firm Carebox".
- ^ "H.I.G. Capital - about". hig.com.
- ^ DB Private Venture Capital Investors Directory – II - 2014: Smart Money für smarte Unternehmer (in German). IAC Society Co. Ltd. (editor). Books on Demand. 2014. p. 164. ISBN 9783735748393.
{{cite book}}
: CS1 maint: others (link) - ^ "Neuberger Berman's Dyal Capital Acquires Position in H.I.G. Capital". FINalternatives. 4 August 2016. Archived from the original on 8 August 2016. Retrieved 12 April 2020.
- ^ "HIG Capital significantly expands credit platform" (Press release). October 7, 2011.
- ^ "H.I.G. Capital - about". hig.com.
- ^ Lim, Dawn (3 August 2016). "Neuberger Berman's Dyal Capital Takes Stake in H.I.G." Wall Street Journal – via www.wsj.com.
- ^ "HIG Capital backs US Medical Supply through recap deal – AltAssets, August 21, 2015
- ^ "H.I.G. Capital - team". hig.com.
- ^ "H.I.G.'s Growth Tests Firm's Quest to Stay True to Its Roots - DHR International". www.dhrinternational.com. Archived from the original on July 14, 2016.
- ^ United States, Federal Communications Commission (2017). FCC Record: A Comprehensive Compilation of Decisions, Reports, Public Notices, and Other Documents of the Federal Communications Commission of the United States. The Ohio State University (MORITZ LAW LIBRARY). p. 10318.
- ^ Leleux, Benoît; van Swaay, Hans; Megally, Esmeralda (2015). Private Equity 4.0: Reinventing Value Creation. Wiley. p. 149. ISBN 9781118939840.
- ^ Thangavelu, Poonkulali (July 14, 2017). "H.I.G Funds to Invest in Middle-Market Debt, Direct-Lending Opportunities". Chief Investment Officer.
- ^ "About - WhiteHorse Capital". whitehorsecapital.com. Archived from the original on May 28, 2022.
- ^ Gil, Julia (2023-11-03). "HIG Capital acquires two office buildings and a hotel in Madrid: advisors". Iberian Lawyer. Retrieved 2023-11-29.
- ^ "H.I.G. closes $593M RE investment fund". The Real Deal. 11 May 2017.
- ^ https://www.wsj.com/articles/h-i-g-taps-oaktree-ex-executive-for-capital-formation-group-in-hong-kong-1537289351
- ^ "H.I.G. Capital contacts". hig.com.