H.I.G. Capital, a global alternative asset management firm, closed its third European lower middle market fund, H.I.G. Europe Capital Partners III, with aggregate capital commitments of $1.3 billion (€1.1 billion).
The fund will continue the strategy of its two predecessor funds by making private equity investments in lower middle-market companies, primarily in Western Europe.
“We are delighted with the continued support from our limited partner base, which reflects their confidence in the capability of our European team and our differentiated investment approach,” Sami Mnaymneh and Tony Tamer, co-founders and co-CEOs of H.I.G., said in a joint statement.
“The team is excited to build upon H.I.G.’s successful European lower middle market strategy. The current economic environment in Europe leaves us well-positioned to target control investments in complex situations and/or undermanaged lower middle-market companies. We are confident that our experienced team, with its established local presence, will successfully navigate this period of uncertainty and deliver value for our investors,” Wolfgang Biedermann, head of H.I.G. Europe Buyouts, said.
“The fund received tremendous support from our global investor base, allowing us to complete an entirely virtual fundraising process within a short time frame. The fund is comprised of a diverse group of leading investors, including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices in North America, Europe, Asia and the Middle East,” Jordan Peer, managing director and global head of H.I.G. Capital Formation, said.
