HIG Capital (HIG) has closed the HIG Advantage Buyout Fund with aggregate capital commitments of USD3 billion, well in excess of its target. The Fund makes control equity investments in more stable, higher quality companies with EBITDA between USD25 million and USD100 million.
The fund will capitalise on HIG’s established expertise in middle market private equity.
Sami Mnaymneh and Tony Tamer, Co-CEOs of HIG, say: “We are pleased with the strong demand for the HIG Advantage Buyout Fund. The positive response from our investors to this offering reflects their confidence in the capability of our team and our differentiated strategy.”
Brian Schwartz, Head of HIG Advantage, says: “Our team is well-positioned to pursue unique investment opportunities where HIG can utilise its operational and strategic expertise to unlock value for our investors. The Fund has already made three investments and we continue to find compelling opportunities for earnings improvement and value creation.”
Jordan Peer, Head of HIG Capital Formation, adds: “We are pleased to have the support of our long-standing HIG investors, along with welcoming new relationships to the HIG private equity platform. The Fund is comprised of a prestigious group of investors including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices in North America, Europe, Asia and the Middle East.”
