H.I.G. Capital

H.I.G. Capital

Type	Private Ownership
Industry	Private Equity
Founded	1993
Headquarters	Miami, Florida, United States 1450 Brickell Avenue 31st Floor Miami, FL 33131 200 Crescent Court Suite 1414 Dallas, TX 75201
Key people	Sami Mnaymneh, Founder and Co-CEO Tony Tamer, Founder and Co-CEO
Products	Private Equity, Growth Equity, Biohealth, Credit/Special Situations, Real Estate, Lending, Syndicated Credit
Total assets	$20 billion
Website	www.higcapital.com

H.I.G. Capital is an American global private equity and alternative assets investment firm with over $20 billion of equity capital under management. The firm operates a family of private equity, growth equity, biohealth, real estate, credit/special situations, lending and syndicated credit funds.

Based in Miami, and with 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 and Rio de Janeiro, H.I.G. Capital specializes in providing both debt and equity capital to small and mid-sized companies, utilizing an operationally focused/ value-added approach.

Overview and 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. In 1993, the first H.I.G. fund was originally launched with a focus on small to midsize investments and a strong emphasis on in-house operational expertise. H.I.G. currently operates a family of funds:

• 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. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
• Other H.I.G. funds invest in various real assets, including real estate and shipping.

Since its founding, H.I.G. had raised a significant number of funds, including most recently:

• 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
• 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
• H.I.G. Middle Market Fund II (2014) — $1.75 billion fund, focused on leveraged buyouts of middle market companies.^[1]
• H.I.G. Capital Partners V (2013) — $1.0 billion fund, focused on leveraged buyouts of small-capitalization companies^[2]
• H.I.G. European Capital Partners II (2013) — €825 EUR million fund, focused on European leveraged buyouts.^[3]
• 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
• H.I.G. BioVentures II (2012) — $268 million fund, focused on pharmaceuticals, medical devices, and diagnostics
• H.I.G. Growth Equity Fund II, L.P. (2011) — $500 million fund, focused on strong, growth oriented small-capitalization businesses
• H.I.G. Bayside Loan Opportunity Fund II (2010) — $1.1 billion fund focused on secondary purchases of senior loans and new issue loan originations
• H.I.G. Bayside Debt and LBO Fund II (2008) — $3 billion fund, focused on distressed securities.

Today, the company claims to be "the largest and most active private equity firm in the lower-middle market." Its team includes more than 250 professionals worldwide. Since inception, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes over 100 companies with combined sales in excess of $30 billion,including US Medical Supply which it backed through a recap deal in August 2015.^[4]

Acquisitions

• On March 3, 2016, Intuit announced plans to sell Quicken to H.I.G. Capital. Terms of the sale were not disclosed.^[5]

References

1. "H.I.G. Capital Secures $1.75bn for New Mid-Market Vehicle in Fast Fundraise." AltAssets, February 10, 2014
2. "Capital Closes Fund V at $1 Bln." PE HUB, March 4, 2013
3. "H.I.G. Capital Closes H.I.G. Europe II Fund at EUR825 Million." FinSMEs.com, July 7, 2013
4. "HIG Capital backs US Medical Supply through recap deal – AltAssets, August 21, 2015
5. John Rebeiro (March 3, 2016). "Intuit selling Quicken to private equity firm HIG Capital". pcworld.com. IDG Consumer & SMB. Retrieved March 4, 2016.

External links

• H.I.G. Capital (company website)
• H.I.G. Capital Profile (BusinessWeek)
• H.I.G. Capital raises over $1bn for Bayside European debt fund. AltAssets, May 16, 2013