H.I.G. WhiteHorse, a H.I.G. Capital credit affiliate, has closed its principal lending fund at about $1.1 billion. The fund will focus on providing senior secured financing solutions to primarily off-the-run, sponsor-owned companies in North America.
NEW YORK–(BUSINESS WIRE)–H.I.G. WhiteHorse, the credit affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with over $35 billion of equity capital under management, announced the closing of H.I.G. WhiteHorse Principal Lending Fund (the “Fund”). The Fund closed with aggregate capital commitments of approximately $1.1 billion.* The Fund will continue H.I.G.’s successful investment strategy of investing in tailored senior secured financing solutions to primarily, off-the-run, sponsor owned companies in North America.
Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G., commented, “The strong response from our investors reflects their confidence in the capability of our team and our differentiated strategy. The team has been very active in the market, having already invested in 24 transactions from the Fund.”
Stuart Aronson, Head of U.S. Direct Lending, commented, “We believe the next several years will present a compelling opportunity to partner with off-the-run, sponsor owned companies seeking private credit capital solutions. We will continue to build upon H.I.G.’s successful track record as a value-added debt provider to leading small/mid-cap companies. In addition, the Fund will capitalize on the Firm’s synergistic platform and unparalleled deal sourcing network with 19 originators located in 12 North American cities.”
Added Jordan Peer, Head of H.I.G. Capital Formation, “The Fund attracted a diverse group of long-standing H.I.G. investors, as well as welcoming some new limited partners to the platform. The investor base includes sovereign wealth funds, public and private pensions, endowments, foundations, consultants, and family offices and across the U.S., Europe, Asia and the Middle East.”
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $35 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, Rio de Janeiro and São Paulo, 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:
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.
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.
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 300 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 the Fund and other investment vehicles raised in conjunction with the Fund, including separately managed accounts that will invest with the Fund.
** Based on total capital commitments managed by H.I.G. Capital and affiliates.