Huntsman Gay Global Capital
|Founder(s)||Jon M. Huntsman, Robert C. Gay, Steve Young|
|Headquarters||Salt Lake City, Utah, United States
Palo Alto, California, United States
West Palm Beach, Florida, United States
Foxborough, Massachusetts, United States
|Total assets||$1.1 billion|
Huntsman Gay Global Capital is a private equity investment firm focusing on leveraged buyout transactions and growth capital investments in middle-market companies. The firm invests primarily in the United States.
The firm marks the notable combination of billionaire industrialist Jon M. Huntsman and long-time Bain Capital managing director Robert C. Gay, who gained additional prominence due to his connection to former Bain alumnus and presidential candidate Mitt Romney. Among HGGC's other notable partners are NFL Hall of Fame quarterback Steve Young and former Citi CFO, Gary Crittenden.
Huntsman Gay Global Capital which was originally named Huntsman Gay Capital Partners, has offices in Salt Lake City, Utah, West Palm Beach, Florida, Foxborough, Massachusetts and Palo Alto, California. The firm has raised in excess of $1 billion of investor commitments to date.
The fund was closed in July 2009 with $1.1 billion of investor commitments, ahead of its original $1 billion target. In May 2008, CalPERS made a $180 million commitment to Huntsman Gay's most recent private equity fund.
After changing the name of the firm from Huntsman Gay Capital Partners to H&G Capital Partners, Miami-based private equity firm H.I.G. Capital, in March 2008, sent a letter to H&G Capital demanding that the firm change its name. H.I.G., which also makes private equity investments in middle market companies in the United States, claimed that the similarity of the two names would cause confusion in the market. H.I.G. subsequently sued H&G, hoping to prevent H&G Capital from using the name. H.I.G. had been at the receiving end of similar litigations in Europe. In 2007, HgCapital, a European private equity firm had launched a trademark infringement lawsuit against H.I.G. Capital after it intensified its efforts in Europe.
The firm abandoned the H&G name, ultimately adopting the Huntsman Gay Global Capital moniker.
- Huntsman Gay Closes 1st Fund at $11 billion. New York Times, Julty 15, 2009
- Robert Gay, who worked with Mitt Romney at Bain Capital provided a testimonial ad for Romney's 2008 Presidential Campaign relating to the 1996 disappearance of his daughter. ("Romney gets testimonial in new ad." The Boston Globe, December 20, 2007)
- CalPERS Alternative Investment Management Program (May 2008)
- CalPERS commits nearly $1bn to TPG. Private Equity Online, May 8, 2008
- "H.I.G. Battles H&G In Name Dispute." Buyouts, April 28, 2008
- James Mawson and Paul Hodkinson. "HIG and HgCapital spat over name reaches court." Dow Jones Financial News, June 16, 2008
- Huntsman Gay Global Capital (company website)