H.I.G. Capital has raised $3 billion for a new middle-market buyout fund.
The limited partners of H.I.G. Advantage Buyout Fund include foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds and family offices in North America, Europe, Asia and the Middle East.
The fund will invest in companies that have an EBITDA between $25 million and $100 million.
Earlier this month, H.I.G. closed its third growth buyout fund at $970 million. That fund will invest in the tech sector, including business services, software, digital adtech, e-commerce/consumer, online/internet services, healthcare and industrial technology.
Based in Miami, H.I.G. has $28 billion in equity capital under management, according to the firm.