H.I.G. Hits Europe

When H.I.G. Capital began raising its debut European fund earlier this year, it had more than a few doubters. For example, LBOWire wrote the following: “The Miami-based firm has its work cut out for it. Europe’s mid-market buyout landscape is already heavily populated with local players and H.I.G. appears to have done few, if any, buyout deals in the region.”

Well, if H.I.G. had difficulty – I can’t imagine what success would look like.

peHUB has learned that the H.I.G. Europe fund recently closed with €600 million in capital commitments. That represents an oversubscription from the original €500 million target, and more (in converted currency) than the $750 million it raised last year for its fourth “general” fund. And it took H.I.G. less than six months to do so.

H.I.G. also has staffed up its European operations, which originally included just relocating co-founder Sami Mnaymneh. According to its website, the team now includes:

  • Matthias Allgaier, UK-based managing director, previously a managing director with Favonius Ventures
  • Wolfgang Biedermann, Germany-based managing director, previously CEO of Pricap Venture Partners
  • Paul Canning, UK-based managing director, previously a partner with Gresham Private Equity
  • Patrick Caron, France-based managing director, previously a managing director with BA Capital Partners Europe
  • Zoltan Bognar, Germany-based principal, previously a partner at Inventages Venture Capital 
  • Thibaud Caulier, France-based principal, previously a managing director and CEO of H.I.G. portfolio company Halo-Europe
  • Andy Steel, UK-based principal, previously director of strategic business development for Home Depot.