H.I.G. WhiteHorse, the direct lending credit affiliate of H.I.G. Capital, a global alternative asset management firm with $70 billion of capital under management, announced the final closing of H.I.G. WhiteHorse Middle Market Lending Fund IV. Fund IV closed with $5.9 billion* of assets and continues the Firm’s successful strategy of originating senior secured loans across the U.S. middle market.
H.I.G. WhiteHorse has invested approximately $18 billion in U.S. direct lending transactions. The WhiteHorse team has invested in over 285 middle market companies, primarily through senior secured floating rate loans, often with bespoke terms and conservative loan-to-value ratios. Fund IV focuses on originating senior secured loans to both sponsor and non-sponsor borrowers with EBITDA generally between $30 and $100 million.
Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-Executive Chairmen, commented: “H.I.G. is one of largest and most active credit investors in the middle market where H.I.G. WhiteHorse is an established leader. We have been disciplined in maintaining our middle market focus and are confident that our unique platform targeting both non-sponsor and sponsor borrowers will continue to set us apart in this space.”
Stuart Aronson, Executive Managing Director and CEO of H.I.G. WhiteHorse, commented: “We believe the coming years will offer a compelling opportunity to serve as a value-added financing partner to both sponsor and non-sponsor middle market companies seeking private debt solutions. With 24 originators in 13 regional markets, H.I.G. WhiteHorse is well-positioned to source strong and differentiated deal flow for our investors.”
“Fund IV attracted a diverse group of limited partners seeking differentiated deal flow coupled with a rigorous “PE-style” of credit underwriting, delivering downside protection with attractive yield,” said Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation for H.I.G. “We appreciate our partners’ confidence in our ability to continue our long history of delivering superior risk-adjusted returns across shifting market environments.”
Fund IV was supported by a global group of limited partners that include public and private sector pensions, sovereign wealth funds, endowments, foundations, consultants, financial institutions and family offices in North America, Europe, Asia and the Middle East.
