HIG Bayside Capital, the special situations credit affiliate of $55bn global alternative investment firm HIG Capital (HIG), has held the final closing of HIG Bayside Loan Opportunity Fund VII with $1bn of aggregate capital commitments.
The new fund continues the firm’s strategy of investing in special situation credit opportunities in the European middle market.
Established in 2006, HIG Bayside’s European strategy invests primarily in senior secured European stressed and special situations credit, targeting equity-like returns.
According to a press statement, “the fund’s disciplined approach to portfolio construction and deal selection has consistently resulted in higher returns and a lower level of volatility relative to comparable credit indices”. The fund’s predecessor, HIG Bayside Loan Opportunity Fund V, was named “Best Performing Debt Fund” by Private Equity Wire/Bloomberg in 2022.
