H.I.G. CLOSES US$5.5 BLN FOURTH MIDDLE MARKET LBO FUND

KUALA LUMPUR, Sept 13 (Bernama) -- H.I.G. Capital (H.I.G.), a global alternative asset management firm with US$58 billion of capital under management, has announced the closing of H.I.G. Middle Market LBO Fund IV. (US$1=RM4.67)

In a statement, H.I.G. said the fund closed with aggregate capital commitments of US$5.5 billion, in addition to co-investment separately managed accounts of US$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 the United States (US) middle market companies with asymmetric risk/reward profiles and a differentiated value proposition.

Its co-founders and co-chief executive officers, Sami Mnaymneh and Tony Tamer said: “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.”

Meanwhile, its Middle Market head, Keval Patel said the firm’s scale and operational expertise dedicated to the middle market continue to create a meaningful competitive advantage and allow it to drive significant returns to its investors regardless of the macroeconomic environment.

Supported by H.I.G.'s long-standing investor base and new investors globally, the fund's Limited Partners are a diverse and prestigios group of institutional investors.

Based in Miami, US, H.I.G. specialises in providing both debt and equity capital to middle market companies, utilising a flexible and operationally focused/value-added approach.

-- BERNAMA