H.I.G. Capital‘s credit arm H.I.G. WhiteHorse has closed its new loan funds at about $1.1 billion. H.I.G. WhiteHorse Direct Lending Fund and H.I.G. WhiteHorse Loan Fund will invest in loans to American lower-middle-market companies. The fund’s investors include foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices.
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 $21 billion of equity capital under management, announced the closing of H.I.G. WhiteHorse Direct Lending Fund and H.I.G. WhiteHorse Loan Fund (collectively the “Fund”). The Fund closed with aggregate capital commitments of approximately $1.1 billion*, exceeding its target. The Fund will continue H.I.G.’s successful investment strategy of investing in tailored senior secured financing solutions to non-sponsor and sponsor owned companies in the U.S.
Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G., commented: “We are delighted with the success of H.I.G. WhiteHorse. The strong response from our investors to this offering reflects their confidence in the capability of our team and our differentiated strategy. The U.S. Direct Lending team has been very active in the market, having already invested in 12 transactions from the Fund.”
Stuart Aronson, Head of U.S. Direct Lending, commented: “The next several years will present a compelling opportunity to partner with non-sponsor and sponsor owned companies in need of debt capital solutions. We look forward to capitalizing on the Firm’s synergistic platform and strong deal sourcing network with originators located in nine cities across the U.S. This will allow us to continue to build H.I.G.’s long-standing track record of being a value-added debt provider to leading small/mid-cap companies.”
Added Jordan Peer, Head of H.I.G. Capital Formation, “The Fund is supported by a prestigious and diverse institutional investor base, including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices.”
The Fund will seek to invest in senior secured financing solutions to non-sponsor and sponsor owned U.S. lower middle market companies. The Fund will have a broad investment mandate to invest in primarily non-sponsored loans across a range of industries, fitting with the investment strategy utilized by H.I.G.’s direct lending platform since 2010.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $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 the Fund and its related separately managed accounts.
** Based on total capital commitments managed by H.I.G. Capital and affiliates.