H.I.G. Capital announced the closing of H.I.G. Middle Market LBO Fund IV (the “Fund”). The Fund closed with aggregate capital commitments of $5.5 billion, in addition to co-investment separately managed accounts of $450 million, significantly exceeding its original target.
The Fund will build on the team’s deep-rooted track record by primarily making control equity investments in complex situations in U.S. middle market companies with asymmetric risk/reward profiles and a differentiated value proposition.
Sami Mnaymneh and Tony Tamer, co-Founders and co-CEOs of H.I.G., commented: “We are delighted with the continued support from our investors, reflecting the strong performance of the H.I.G. Middle Market team and its differentiated investment approach. We are confident that our unique platform will continue to set us apart in this space.”
Keval Patel, Head of H.I.G. Middle Market, commented: “We are excited to build upon H.I.G.’s successful middle market strategy with this latest fund. Our scale and operational expertise dedicated to the middle market continue to create a meaningful competitive advantage for us and allow us to drive significant returns to our investors regardless of the macroeconomic environment.”
Added Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation, “The resounding support of our limited partners led to a successful fundraise that was meaningfully oversubscribed during a very difficult fundraising environment. It is a testament to our investors’ high level of confidence in H.I.G., our investment strategy, and our ability to consistently source attractive investments and generate outstanding returns.”
The Fund was supported by H.I.G.’s long-standing investor base, and also welcomed new investors across the globe, in the U.S., Europe, Asia, Middle East and Latin America. The Fund’s Limited Partners are a diverse and prestigious group of institutional investors including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices.