H.I.G. Capital, LLC
TypePrivate Ownership
IndustryPrivate Equity
Founded1993 (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$60 billion
Websitewww.higcapital.com


H.I.G. Capital is a global private equity and alternative assets investment company, headquartered in Miami, Florida.[1] With over $60 billion of equity capital under management, the firm has a range of funds, including private equity, growth equity, credit/special situation, primary lending, and syndicated credit funds, as well as real estate funds. H.I.G. Capital provides both debt and equity investments for small and medium-sized businesses.[2]

History

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 respectively.[3] The company remains under their directorship.[4]

The US company funds are divided into five business divisions as follows:[5]

  1. H.I.G. Private Equity
  2. H.I.G. Ventures[6]
  3. Bayside Capital
  4. Brightpoint Capital[6]
  5. H.I.G. Realty

In 2006, the company expanded to its first affiliate office in Europe, known as H.I.G. Europe.[5]

H.I.G. Private Equity

HIG Private Equity provides leveraged buyouts, equity, debt, and other investments in small to mid-sized businesses.[5]

H.I.G. Ventures

HIG Ventures partners with innovative entrepreneurs to provide financial, expert and relationship-based support to help them build their market presence.[5]

Bayside Capital

Bayside Capital has a focus on investing in mid-market companies which have potential to benefit from operational enhancement, access to capital, and balance sheet realignments.[5]

Brightpoint Capital

Brightpoint Capital is H.I.G's public securities investment affiliate, and invests in smaller and mid-capitalization publicly traded companies.[5]

H.I.G. Realty

H.I.G. Realty focuses on small to mid-size real estate properties in the United States.[5]

Funds

Since its founding, the firm has raised a series of funds. Each fund is dedicated to investing in various sectors including buyouts, venture capital, distressed and special situations, growth equity, real estate, and debt securities, including the following:

  • H.I.G. Bayside Europe Loan Opportunity Fund III (2010) – $1bn fund focused on secondary purchases of senior loans and new-issue loan originations in Europe[7]
  • H.I.G. Growth Equity Fund II, L.P. (2011) – $500M fund focused on growth-oriented small-capitalization businesses[8]
  • H.I.G. BioVentures II (2012) – $268M fund focused on pharmaceuticals, medical devices, and diagnostics[9]
  • WhiteHorse VI, Ltd (2013) – $415.5M collateralized loan obligation (CLO) fund focused on investing in broadly syndicated loans
  • H.I.G. European Capital Partners II (2013) – €825M fund focused on European leveraged buyouts[10]
  • H.I.G. Capital Partners V (2013) – $1bn fund focused on leveraged buyouts of small-capitalization companies[11]
  • H.I.G. Middle Market Fund II (2014) – $1.75bn fund focused on leveraged buyouts of middle-market companies[12]
  • H.I.G. Brazil & Latin America Partners (2016) – $740M fund focused on private equity, buyout, and growth-oriented investments in lower- to middle-market companies in Latin America, with a focus on Brazil[13]
  • H.I.G. Bayside Loan Opportunity Fund IV (2016) – $1.1bn fund focused on investments in small-cap, special situation credit opportunities in the United States[14]
  • H.I.G. Realty Partners III (2017) – $593M fund focused on value-add investments in small- to mid-cap properties in the U.S.[15]
  • H.I.G. WhiteHorse Direct Lending Fund and H.I.G. WhiteHorse Loan Fund (2017) – $1.1bn fund focused on investing in tailored, senior-secured financing solutions to non-sponsor and sponsor-owned companies in the United States[16]
  • H.I.G. Growth Buyouts & Equity Fund III (2018) – $970M fund focused on making investments in growth buyouts and structured equity in high-growth, small-cap companies, primarily in North America[17]
  • H.I.G. Advantage Buyout Fund (2018) – $3bn fund focused on control equity investments in more stable, higher quality companies with EBITDA between $25 million and $100M[18]
  • H.I.G. Bayside Loan Opportunity Fund V (Europe) (2019) – $1.5bn fund focused on investments in small-cap, special situation credit opportunities in Europe[19]
  • H.I.G. Middle Market LBO Fund III (2019) – $3.1bn fund focused on making private equity investments in middle-market companies, primarily in North America[20]
  • H.I.G. WhiteHorse Principal Lending Fund (2020) – $1.1bn fund focused on investing in senior secured financing solutions to primarily off-the-run, sponsor-owned companies in North America[21]
  • H.I.G. Middle Market LBO Fund IV (2023) - $5.5bn fund [22][23][24]

Products

H.I.G.’s equity funds specialize in investing in management buyouts, recapitalizations, corporate carve-outs, and other private investment opportunities. As an active investor, they primarily target to acquire lower middle-market companies that operate in niche-market segments with operational, financial, and/or business model challenges. H.I.G. capital focuses these investments on both profitable as well as underperforming manufacturing and service businesses.

H.I.G's debt funds invest in senior, unitranche, and junior debt financing, both on a primary (direct origination) and secondary basis, to companies of various sizes.[25] Additionally, H.I.G. WhiteHorse family of vehicles act as managers for collateralised loan obligations (CLO), whilst also overseeing a public business development corporation (BDC), WhiteHorse Finance.[26]

Other H.I.G. funds invest in various real assets, including real estate[27] and shipping.[28]

Acquisitions

In 2019, H.I.G. Capital acquired the United States branch of Jenny Craig, a weight loss program, for an undisclosed sum. However, by 2023, the branch had entered into administration before being declared bankrupt.[29]

According to its website, H.I.G.'s team includes more than 350 professionals.[30] Since its inception, H.I.G. has invested in and managed more than 400 companies and has a current portfolio of more than 100 companies.[31][32][22]

Offices

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, Bogotá, Rio de Janeiro, and São Paulo.[33]

References

  1. ↑ 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)
  2. ↑ "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.
  3. ↑ "H.I.G.'s Growth Tests Firm's Quest to Stay True to Its Roots - DHR International". www.dhrinternational.com.
  4. ↑ 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.
  5. 1 2 3 4 5 6 7 Leleux, Benoît; van Swaay, Hans; Megally, Esmeralda (2015). Private Equity 4.0: Reinventing Value Creation. Wiley. p. 149. ISBN 9781118939840.
  6. 1 2 Dow Jones & Co (contributor). "Dow Jones Private Equity Analyst". Dow Jones Private Equity Analyst. Asset Alternatives Incorporated. 18 (7–10): 66. 2008.{{cite journal}}: CS1 maint: others (link)
  7. ↑ "H.I.G. Bayside Capital Closes $1.1 Billion Loan Opportunity Fund". 7 September 2010.
  8. ↑ "Miami Shop Eyes $450 Million for Growth Buyouts - PE Hub". 25 April 2011.
  9. ↑ "HIG BioVentures II - Palico". www.palico.com.
  10. ↑ "H.I.G. Capital Closes H.I.G. Europe II Fund at EUR825 Million." FinSMEs.com, July 7, 2013
  11. ↑ "Capital Closes Fund V at $1 Bln." PE HUB, March 4, 2013
  12. ↑ "H.I.G. Capital Secures $1.75bn for New Mid-Market Vehicle in Fast Fundraise." AltAssets, February 10, 2014
  13. ↑ "H.I.G. Capital Raises $740M For Latin America & Brazil Fund - FINalternatives". www.finalternatives.com.
  14. ↑ Kilroy, Meaghan (6 July 2016). "H.I.G. Bayside Loan Opportunity Fund IV closes at $1.1 billion".
  15. ↑ "H.I.G. Realty Partners III raises $593 mln - PE Hub". www.pehub.com/. 9 May 2017.
  16. ↑ "H.I.G. WhiteHorse Closes Loan Funds at $1.1 Billion - MarketWatch". www.MarketWatch.com.
  17. ↑ "H.I.G. Capital Closes H.I.G. Growth Buyout & Equity Fund III at $970 Million - MarketWatch". www.marketwatch.com.
  18. ↑ "H.I.G. Capital Raises $3bn - Private Equity International". www.privateequityinternational.com. November 2018.
  19. ↑ "H.I.G. Capital Closes $1.5 Billion* Bayside Loan Opportunity Fund - Bloomberg". www.bloomberg.com.
  20. ↑ "H.I.G. Capital Closes $3.1 Billion H.I.G. Middle Market LBO Fund III Above Target - Bloomberg". www.bloomberg.com.
  21. ↑ "H.I.G. WhiteHorse Closes Loan Fund at $1.1 Billion - Business Wire". www.businesswire.com. 6 January 2020.
  22. 1 2 Dorbian, Iris (2023-09-13). "H.I.G. Capital racks up $5.5bn for fourth mid-market LBO fund". Buyouts. Retrieved 2023-11-29.
  23. ↑ "H.I.G. Capital Closes Record $5.5 Billion H.I.G. Middle Market LBO Fund IV". Morningstar, Inc. 2023-09-12. Retrieved 2023-11-29.
  24. ↑ Ghosh, Palash (12 September 2023). "H.I.G. caps fourth middle-market LBO fund with $5.5 billion". Pensions and Investments online. Retrieved 29 November 2023.
  25. ↑ "H.I.G Funds to Invest in Middle-Market Debt, Direct-Lending Opportunities - Chief Investment Officer".
  26. ↑ "WhiteHorse Capital Collateralized Loan Obligations (CLOs)". whitehorsecapital.com.
  27. ↑ Gil, Julia (2023-11-03). "HIG Capital acquires two office buildings and a hotel in Madrid: advisors". Iberian Lawyer. Retrieved 2023-11-29.
  28. ↑ "H.I.G. closes $593M RE investment fund". 11 May 2017.
  29. ↑ "Jenny Craig collapses in Australia and New Zealand after no buyer found for weight-loss company". 7 June 2023.
  30. ↑ "H.I.G. Capital - team". higcapital.com.
  31. ↑ Lim, Dawn (3 August 2016). "Neuberger Berman's Dyal Capital Takes Stake in H.I.G." Wall Street Journal – via www.wsj.com.
  32. ↑ "HIG Capital backs US Medical Supply through recap deal – AltAssets, August 21, 2015
  33. ↑ "H.I.G. Capital contacts". higcapital.com.
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