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H.I.G. Capital

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H.I.G. Capital, LLC
Company typePrivate Ownership
IndustryPrivate Equity
Founded1993; 31 years ago (1993)
HeadquartersMiami, Florida, United States
Key people
Tony Tamer, Founder and Co-CEO
Sami Mnaymneh, Founder and Co-CEO
ProductsPrivate Equity, Growth Equity, Credit/Special Situations, Real Estate, Lending, Syndicated Credit
AUM$56 billion
Websitewww.higcapital.com

H.I.G. Capital is a Miami, Florida–based private equity and alternative assets investment firm with $56 billion of equity capital under management. The firm operates a family of private equity, growth equity, credit/special situation, primary lending, syndicated credit, and real estate funds. The company provides both debt and equity capital to small and mid-sized companies.[1]

History

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.[2]

Since its founding, H.I.G. has raised several funds, including most recently:

  • 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[3]
  • 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[4]
  • 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[5]
  • 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[6]
  • 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[7]
  • 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.[8]
  • 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[9]
  • 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[10]
  • 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[11]
  • H.I.G. Middle Market Fund II (2014) – $1.75 billion fund, focused on leveraged buyouts of middle market companies[12]
  • H.I.G. Capital Partners V (2013) – $1.0 billion fund, focused on leveraged buyouts of small-capitalization companies[13]
  • H.I.G. European Capital Partners II (2013) – €825 EUR million fund, focused on European leveraged buyouts[14]
  • WhiteHorse VI, Ltd (2013) – $415.5 million collateralized loan obligation (CLO) fund focused on investing in the broadly-syndicated loan space
  • 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[15]
  • H.I.G. BioVentures II (2012) – $268 million fund, focused on pharmaceuticals, medical devices, and diagnostics[16]
  • H.I.G. Growth Equity Fund II, L.P. (2011) – $500 million fund, focused on strong, growth-oriented small-capitalization businesses[17]

Products

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 on the secondary markets.[18] H.I.G. is also a CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.[19]

Other H.I.G. funds invest in various real assets, including real estate and shipping.[20]

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.[21]

According to its website, H.I.G.'s team includes more than 350 professionals.[22] Since its inception, H.I.G. has invested in and managed more than 300 companies and has a current portfolio of more than 100 companies.[23][24]

Offices

The company is headquartered in Miami and has offices in New York City, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the United States, as well as affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, and São Paulo.[25]

References

  1. ^ "Neuberger Berman's Dyal Capital Acquires Position in H.I.G. Capita". FINalternatives. 4 August 2016. Archived from the original on 8 August 2016. Retrieved 12 April 2020.
  2. ^ "H.I.G.'s Growth Tests Firm's Quest to Stay True to Its Roots - DHR International". www.dhrinternational.com.
  3. ^ "H.I.G. WhiteHorse Closes Loan Fund at $1.1 Billion - Business Wire". www.businesswire.com. 6 January 2020.
  4. ^ "H.I.G. Capital Closes $3.1 Billion H.I.G. Middle Market LBO Fund III Above Target - Bloomberg". www.bloomberg.com.
  5. ^ "H.I.G. Capital Closes $1.5 Billion* Bayside Loan Opportunity Fund - Bloomberg". www.bloomberg.com.
  6. ^ "H.I.G. Capital Raises $3bn - Private Equity International". www.privateequityinternational.com. November 2018.
  7. ^ "H.I.G. Capital Closes H.I.G. Growth Buyout & Equity Fund III at $970 Million - MarketWatch". www.marketwatch.com.
  8. ^ "H.I.G. WhiteHorse Closes Loan Funds at $1.1 Billion - MarketWatch". www.MarketWatch.com.
  9. ^ "H.I.G. Realty Partners III raises $593 mln - PE Hub". www.pehub.com/. 9 May 2017.
  10. ^ Kilroy, Meaghan (6 July 2016). "H.I.G. Bayside Loan Opportunity Fund IV closes at $1.1 billion".
  11. ^ "H.I.G. Capital Raises $740M For Latin America & Brazil Fund - FINalternatives". www.finalternatives.com.
  12. ^ "H.I.G. Capital Secures $1.75bn for New Mid-Market Vehicle in Fast Fundraise." AltAssets, February 10, 2014
  13. ^ "Capital Closes Fund V at $1 Bln." PE HUB, March 4, 2013
  14. ^ "H.I.G. Capital Closes H.I.G. Europe II Fund at EUR825 Million." FinSMEs.com, July 7, 2013
  15. ^ "H.I.G. Bayside Capital Closes $1.1 Billion Loan Opportunity Fund". 7 September 2010.
  16. ^ "HIG BioVentures II - Palico". www.palico.com.
  17. ^ "Miami Shop Eyes $450 Million for Growth Buyouts - PE Hub". 25 April 2011.
  18. ^ "H.I.G Funds to Invest in Middle-Market Debt, Direct-Lending Opportunities - Chief Investment Officer".
  19. ^ "WhiteHorse Capital Collateralized Loan Obligations (CLOs)". whitehorsecapital.com.
  20. ^ "H.I.G. closes $593M RE investment fund". 11 May 2017.
  21. ^ "Jenny Craig collapses in Australia and New Zealand after no buyer found for weight-loss company". 7 June 2023.
  22. ^ "H.I.G. Capital - team". higcapital.com.
  23. ^ Lim, Dawn (3 August 2016). "Neuberger Berman's Dyal Capital Takes Stake in H.I.G." Wall Street Journal – via www.wsj.com.
  24. ^ "HIG Capital backs US Medical Supply through recap deal – AltAssets, August 21, 2015
  25. ^ "H.I.G. Capital contacts". higcapital.com.
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