H.I.G. Capital has agreed to acquire two real estate-based portfolios from Finangeste, a Portuguese asset manager. The portfolios are comprised of 77 Real Estate assets and 114 secured loans with a face value of over €110 million (US$124.5 mln).
LONDON–(BUSINESS WIRE)–H.I.G. Capital (“H.I.G.”), a leading global investment firm, announced today that its affiliate has reached an agreement with the shareholders of Finangeste, a Portuguese asset manager, to acquire two real estate-based portfolios. The portfolios are comprised of 77 Real Estate assets and 114 secured loans with a face value of over €110 million.
The transaction represents H.I.G.’s 21st real estate investment in Europe since the beginning of 2013. H.I.G. continues to add to its sizeable portfolio of Real Estate assets in Europe, especially in its target market of small/midcap opportunities with a meaningful value-added component.
Ahmed Hamdani, Managing Director at H.I.G. in London, commented:“This investment demonstrates our ability to execute complex transactions in the Portuguese market. We continue to acquire undervalued real estate assets and assets where we see an opportunity to add value by enhancing the income and quality of the asset.”
Sanjoy Chattopadhyay, Principal at H.I.G., added: “We are pleased to complete this transaction, which gives us a strong platform for additional investments in both the Portuguese NPL and Real Estate markets.”
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with €17 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused 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. Other H.I.G. funds invest in various real assets, including real estate and shipping.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €22 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.