HIG Capital closes USD3.1bn HIG Middle Market LBO Fund III above target

Global alternative asset management firm HIG Capital (HIG) has closed the HIG Middle Market LBO Fund III with aggregate capital commitments of USD3.1 billion, well exceeding its target.

The Fund will continue the strategy of HIG Middle Market’s two predecessor funds, by making private equity investments in middle market companies, primarily in North America.

Sami Mnaymneh and Tony Tamer, Founders and Co-CEOs of HIG, say: “We are pleased with the level of support received from our investors, reflecting the strong performance of the HIG Middle Market team and its differentiated investment approach.”

Rick Rosen, Head of HIG Middle Market, says: “The team is excited to build upon HIG’s successful middle market strategy with this latest fund. We will continue to target control investments in complex situations and/or under-managed middle market companies. HIG’s scale and operational expertise continue to create a meaningful competitive advantage for us.”

Jordan Peer, Head of HIG Capital Formation, adds: “The Fund received overwhelming support from HIG’s long-standing Limited Partners. Commitments were received from a prestigious and diverse institutional investor base, including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices across the US, Europe, Asia, and the Middle East.”