H.I.G. Bayside Loan Opportunity Fund II LP Closes At $1.1 Billion

H.I.G. Bayside Capital closed H.I.G. Bayside Loan Opportunity Fund II LP, a special situation loan fund focused on distressed transactions, with $1.1 billion in commitments. The target was $1 billion.


H.I.G. Bayside Capital (“Bayside Capital”), an affiliate of private equity firm H.I.G. Capital, LLC, announced today that it has successfully closed H.I.G. Bayside Loan Opportunity Fund II, L.P. (the “Fund”), a special situation loan fund focused on distressed transactions. The Fund closed on July 30, 2010 and has total aggregate commitments of $1.1 billion, exceeding its $1 billion target.

The Fund will have a broad investment mandate to invest in non-control loan obligations of stressed and distressed companies in the U.S. and Europe, including the ability to provide liquidity to troubled companies and to acquire the debt obligations of such companies. The Fund complements Bayside Capital’s existing distressed investment vehicle, H.I.G. Bayside Debt & LBO Fund II, L.P., a $3 billion fund closed in 2008, which continues to be active and is focused primarily on control investments.

About Bayside Capital

Bayside Capital, an affiliate of H.I.G. Capital, is a special situation investment firm with over $4.5 billion of committed capital. Bayside is focused on helping middle market companies facing financial challenges. Through improved access to capital or facilitating balance sheet realignments, Bayside can help support future strategies and expansion plans. Bayside has the ability to provide capital through a broad range of securities including senior and subordinated debt, equity, debtor-in-possession facilities, and special situation loans. Bayside has the experience and resources to help companies quickly resume growth initiatives and improve their strategic position. For more information, please refer to the Bayside Capital website at www.bayside.com.

About H.I.G. Capital

H.I.G. Capital is a leading global private equity investment firm with more than $8.5 billion of equity capital under management that specializes in acquisitions and recapitalizations of small and middle-market businesses. Based in Miami, and with offices in San Francisco, Atlanta, Boston, and New York in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to companies with attractive growth potential. Since its founding in 1993, H.I.G. Capital has been one of the most active investment firms in the middle market, completing more than 200 transactions and currently managing a portfolio of more than 50 companies world-wide with combined revenues in excess of $8 billion. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed service or manufacturing businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. For more information, please refer to the H.I.G. website at www.higcapital.com.

Bayside Capital John Bolduc, Managing Director, 305-379-8686 jbolduc@higcapital.com