HIG Capital has held its final closing of HIG Bayside Loan Opportunity Fund III (Europe). Total capital commitments to the fund exceeded its USD1bn target.
The fund will invest primarily in debt obligations of small and medium-sized European companies, both existing loans acquired on the secondary markets as well as newly originated primary loans.
With offices in London, Paris, Hamburg and Madrid, HIG Capital has a team of 70 investment professionals in Europe.
Sami Mnaymneh and Tony Tamer, co-founders and managing partners of HIG Capital, say: “We are gratified by the continued support of our investors, which will allow us to continue to pursue this attractive credit strategy.”
John Bolduc, executive managing director of HIG Bayside, adds: “The bank deleveraging process in Europe has resulted in tight credit conditions, especially for smaller businesses. Our strong credit team in Europe is very well situated to address this need and to capitalise on the compelling investment opportunities available in the European loan markets today.”
