H.I.G. Realty Partners, the real estate affiliate of H.I.G. Capital, has closed its latest fund with $593 million in aggregate capital commitments. The target for H.I.G. Realty Partners III was $500 million. The pool will invest in small to mid-cap properties in the United States.
NEW YORK–(BUSINESS WIRE)–H.I.G. Realty Partners, the real estate affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with $21 billion of equity capital under management, announced the closing of H.I.G. Realty Partners III (the “Fund”). The Fund closed with aggregate capital commitments of $593 million*, exceeding its $500 million target.
Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G., commented: “We are delighted with the success of H.I.G. Realty Partners. The new Fund is already 20% committed in eight acquisitions and we continue to find compelling opportunities to invest.”
David Hirschberg and Ira Weidhorn, Co-Heads of H.I.G. Realty Partners, commented: “The Fund will have a broad mandate to invest across asset classes and will utilize a hands-on, value added, operationally focused approach that seeks to generate substantial asset appreciation.”
Added Jordan Peer, Head of H.I.G. Capital Formation, “We are grateful for the continued support from our limited partners for this offering. The size of the Fund allows us to stay committed to investing in the small to mid-cap market and build upon H.I.G.’s long-standing real estate track record.”
The Fund will continue H.I.G.’s successful investment strategy of focusing on value-add investments in small to mid-cap properties in the United States.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $21 billion of equity capital under management.** Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City 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/ value-added 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. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
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 $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Includes commitments from the Fund’s general partner and related parties as well as a $52 million co-investment vehicle.
** Based on total capital commitments managed by H.I.G. Capital and affiliates.