H.I.G. Capital Closes H.I.G. Realty Partners IV Fund
MIAMI–(BUSINESS WIRE)–#CapitalCommitments–H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with over $47 billion of equity capital under management, is pleased to announce the closing of its fourth U.S. Realty Partners fund, H.I.G. Realty Partners IV (the “Fund”). The Fund closed with aggregate capital commitments of $838 million, exceeding its target.* The Fund will continue to pursue the successful investment strategy employed by its predecessor funds and target mid-cap assets with gross asset values (“GAV”) typically less than $200 million, primarily in the major markets of the U.S. The Fund has already made nine investments.
Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-CEOs, commented: “We are very proud of the continued success of the H.I.G. Realty team and their differentiated, value-add strategy focused on the mid-cap segment of the U.S. real estate market. The support from our limited partners validates our conviction in the team’s ability to execute on the Fund’s investment strategy.”
David Hirschberg and Ira Weidhorn, Co-Heads of H.I.G. Realty Partners, added: “We are excited to expand upon H.I.G.’s successful value-add real estate strategy with the closing of H.I.G. Realty Partners IV. We continue to source unique investment opportunities across the real estate asset class spectrum, benefiting from H.I.G.’s scale and operational synergies, and creating a meaningful competitive advantage for us.”
Jordan Peer Griffin, Executive Managing Director and Global Head of H.I.G. Capital Formation, added: “The Fund received tremendous support from our global investor base, allowing us to complete a mostly virtual fundraising process. The Fund is comprised of a diverse group of leading real estate investors including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices in North America, Europe, Asia and the Middle East.”
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $47 billion of equity capital under management.** Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
|
1. |
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. |
|
|
|
|
|
|
2. |
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 in 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. |
|
|
|
|
|
|
3. |
H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices. |
|
|
|
|
|
|
4. |
H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector. |
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
|
* Aggregate capital commitments include co-investment capital. |
|
** Based on total capital commitments managed by H.I.G. Capital and affiliates. |
Contacts
David Hirschberg
Co-Head of H.I.G. Realty Partners
dhirschberg@higcapital.com
Ira Weidhorn
Co-Head of H.I.G. Realty Partners
iweidhorn@higcapital.com
Jordan Peer Griffin
Executive Managing Director
jpeer@higcapital.com