H.I.G. Capital

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H.I.G. Capital
Type Private Ownership
Industry Private Equity
Founded 1993
Headquarters Miami, Florida, United States
Key people Sami Mnaymneh, co-founding Partner
Tony Tamer, co-founding Partner
Products Private Equity, Growth Equity, Life Sciences, Credit/Special Situations, Real Estate, Lending, Syndicated Credit
Total assets $15 billion
Website www.higcapital.com

H.I.G. Capital is an alternative investment firm that operates a family of private equity, growth equity, life sciences, real estate, credit/special situations, lending and syndicated credit funds. The firm's roots trace back to middle-market leveraged buyouts, management buyouts, leveraged recapitalizations, and growth capital investments.

The firm was founded in 1993 and is headquartered in Miami, Florida with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as affiliate offices in London, Madrid, Milan, Paris, and Hamburg in Europe. H.I.G. also has an office in Rio de Janeiro, Brazil. Today, the firm operates in several related sectors in private equity and alternative investments.[1]

Funds[edit]

H.I.G. Capital[edit]

A $4.8 billion private equity platform focusing on leveraged buyouts, management buyouts and leveraged recapitalizations of established and profitable manufacturing and service companies as well as growth capital investments in less mature companies.

H.I.G. Europe[edit]

A €600 million private equity platform focusing on middle market transactions. This European affiliate of H.I.G. Capital has offices in London, Madrid, Paris and Hamburg.

H.I.G. Growth Partners[edit]

A $500 million growth equity platform investing in growth stage and expansion stage companies, specifically in the information technology and business services sectors.[2]

H.I.G. BioVentures[edit]

A $270 million venture capital fund focusing on life science companies.

Bayside Capital[edit]

A $4.5 billion special situations platform investing in companies with distressed or over-leveraged balance sheets through a variety of investments including equity infusions; secondary market purchases of debt throughout the capital structure; out of court restructurings, turnarounds and bankruptcies; debtor in possession (DIP) financings and special situations lending.[3]

H.I.G. WhiteHorse[edit]

A $4 billion credit platform focusing on originating new loans to performing middle market companies. The fund also manages a number of CLO vehicles.

History[edit]

H.I.G. was founded in 1993 by Sami Mnaymneh, formerly a managing director at The Blackstone Group and Anthony (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 mid size investments and a strong emphasis on in-house operational expertise. Since its founding, H.I.G. had raised a significant number of funds, including most recently:

  • H.I.G. Capital Partners IV (2006) — $750 million fund, focused on leveraged buyouts
  • H.I.G. European Capital Partners (2007) — €600 EUR million fund, focused on European leveraged buyouts
  • H.I.G. Bayside Debt and LBO fund II (2008) — $3 billion fund, focused on distressed securities
  • H.I.G. Bayside Loan Opportunity Fund (2010) — $1.1 billion fund focused on secondary purchases of senior loans and new issue loan originations.
  • H.I.G. Growth Equity Fund II, L.P. (2011) — $500 million fund, focused on strong, growth oriented small-capitalization businesses located in North America and Europe.
  • H.I.G. BioVentures II (2012) — $268 million fund, focused on pharmaceuticals, medical devices, and diagnostics.
  • WhiteHorse VI, Ltd (2013) — $415.5 million collateralized loan obligation (CLO) fund, focused on investing in the broadly-syndicated loan space.
  • H.I.G. Capital Partners V (2013) — $1 billion fund, focused on private equity, buyout and equity-related investments in lower middle-market companies.

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 more than 200 companies, with combined revenues in excess of $30 billion.[4]

Trademark controversy[edit]

In 2007, HgCapital, a European private equity firm launched a trademark infringement lawsuit against H.I.G. Capital after it intensified its efforts in Europe.[5]

Facing what it perceived as encroachment in its own market, in March 2008, H.I.G. Capital sent a letter to H&G Capital Partners demanding that the firm change its name. H&G, which was founded in 2007 is named after its two founders Jon Huntsman, Sr. and Bob Gay, formerly of Bain Capital. H.I.G. subsequently sued H&G, hoping to prevent H&G Capital from using the name.[6]

References[edit]

  1. ^ "Company Overview of H.I.G. Capital, LLC". Bloomsberg Businessweek. Retrieved 11 June 2013. 
  2. ^ "H.I.G. Capital closes €600m fund for Europe, opens three European offices." AltAssets, July 9, 2007
  3. ^ "H.I.G. Capital closes $3bn distressed fund." AltAssets, June 11, 2006
  4. ^ [1]
  5. ^ James Mawson and Paul Hodkinson. "HIG and HgCapital spat over name reaches court." Dow Jones Financial News, June 16, 2008
  6. ^ "H.I.G. Battles H&G In Name Dispute." Buyouts, April 28, 2008

External links[edit]