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H.I.G. WhiteHorse Closes Loan Funds at $1.1 Billion

July 05, 2017, 07:00 AM
Filed Under: Investment Financing

H.I.G. WhiteHorse, the credit affiliate of H.I.G. Capital announced the closing of H.I.G. WhiteHorse Direct Lending Fund and H.I.G. WhiteHorse Loan Fund. The Fund closed with aggregate capital commitments of approximately $1.1 billion*, exceeding its target. The Fund will continue H.I.G.’s successful investment strategy of investing in tailored senior secured financing solutions to non-sponsor and sponsor owned companies in the U.S.

Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G., commented: “We are delighted with the success of H.I.G. WhiteHorse. The strong response from our investors to this offering reflects their confidence in the capability of our team and our differentiated strategy. The U.S. Direct Lending team has been very active in the market, having already invested in 12 transactions from the Fund.”

Stuart Aronson, Head of U.S. Direct Lending, commented: “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 capitalizing on the Firm’s synergistic platform and strong deal sourcing network with originators located in nine cities across the U.S. This will allow us to continue to build H.I.G.’s long-standing track record of being a value-added debt provider to leading small/mid-cap companies.”

Added Jordan Peer, Head of H.I.G. Capital Formation, “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 U.S. 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 utilized by H.I.G.’s direct lending platform since 2010.

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