PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

HIG Capital significantly expands credit platform

Private equity investment firm HIG Capital has acquired certain assets of WhiteHorse Capital, a Dallas-based CLO manager with experience managing over USD1.7 billion of capital, and formed HIG WhiteHorse to provide flexible financing solutions to profitable and performing small and middle market companies.

With more than USD1 billion of capital available to deploy into businesses in the US and Europe, HIG WhiteHorse has a broad mandate to provide senior, second lien, uni-tranche, mezzanine, and subordinated debt for refinancings, growth capital, acquisitions, and balance sheet recapitalisations. This transaction marks a significant expansion of HIG’s existing credit platform, which currently manages in excess of USD4 billion.

HIG WhiteHorse brings together the resources of WhiteHorse Capital and the primary loan origination team of HIG to create a leading provider of debt capital to performing companies. WhiteHorse Capital was founded in 2003 by Jay Carvell, Ethan Underwood and Jarred Worley. WhiteHorse will continue to actively manage leveraged credit structures in the broadly syndicated loan market, including five CLOs and a long-only credit fund.

HIG WhiteHorse will benefit from WhiteHorse’s extensive credit experience, its large and experienced investment team and its strong track record in the leveraged loan market, including loans to private equity-backed buyouts and recapitalisations. HIG WhiteHorse will also draw upon HIG’s private equity experience and resources developed over 18 years of investing in and working with small and mid-cap companies. With a large team of dedicated professionals across the US and Europe, HIG WhiteHorse will be able to quickly mobilise its resources to respond to time-sensitive situations.

"The combination of HIG and WhiteHorse creates a unique platform for providing credit to small and mid-cap companies," says Ethan Underwood, co-Managing Partner of WhiteHorse Capital. Tony Tamer (pictured), co-Managing Partner of HIG, added, "HIG WhiteHorse will benefit from WhiteHorse’s strong track record, deep relationships and extensive credit experience as well as the global resources and small-cap expertise of HIG."
 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured