HIG WhiteHorse, the credit affiliate of HIG Capital (HIG) has closed the HIG WhiteHorse Direct Lending Fund and HIG WhiteHorse Loan Fund.
The Fund closed with aggregate capital commitments of approximately USD1.1 billion, exceeding its target, and will now continue HIG’s nvestment strategy of investing in tailored senior secured financing solutions to non-sponsor and sponsor owned companies in the US.
Sami Mnaymneh and Tony Tamer, Co-CEOs of HIG, says: “We are delighted with the success of HIG WhiteHorse. The strong response from our investors to this offering reflects their confidence in the capability of our team and our differentiated strategy. The US Direct Lending team has been very active in the market, having already invested in 12 transactions from the Fund.”
Stuart Aronson, Head of US Direct Lending, says: “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 capitalising on the Firm’s synergistic platform and strong deal sourcing network with originators located in nine cities across the US. This will allow us to continue to build HIG’s long-standing track record of being a value-added debt provider to leading small/mid-cap companies.”
Added Jordan Peer, Head of HIG Capital Formation, says: “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 US 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 utilised by HIG’s direct lending platform since 2010.
