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H.I.G. Capital Closes Growth Buyout & Equity Fund III at $970MM

October 19, 2018, 08:00 AM
Filed Under: Industry News

H.I.G. Capital (H.I.G.), a global alternative asset management firm with $28 billion of equity capital under management, announced the closing of H.I.G. Growth Buyouts & Equity Fund III. The Fund closed with aggregate capital commitments of $970 million,* exceeding its target. The Fund will continue H.I.G.’s successful strategy of making investments in growth buyouts, as well as structured equity, in high-growth, small-cap companies primarily in North America.

Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G., commented: “We are pleased with the successful fundraise for H.I.G.’s third growth equity fund. H.I.G. Growth Equity’s strong performance and continued support from our investor base enabled us to close the Fund rapidly, reflecting our investors’ strong faith in our differentiated strategy.”

John Black, Head of H.I.G. Growth Equity, commented: “We are excited to continue the successful strategy of H.I.G. Growth Equity with our latest fund, as we build on our dedicated team’s experience in growth buyout and equity investing across relevant technology verticals. H.I.G.’s global presence and vast resources focused on small-cap businesses aid in driving growth and value in our investments. As businesses across industry verticals work to incorporate technology into their operations, entrepreneurial small companies with disruptive technology seeking sophisticated financial partners will find H.I.G. Growth Equity to be a uniquely beneficial partner.”

Added Jordan Peer, Head of H.I.G. Capital Formation, “The strong response from our investors reflects their confidence in the capability of our team as well as our continued success of investing in differentiated strategies. 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 in North America, Europe, Asia and the Middle East.”

The Fund will focus on technology-oriented businesses in verticals where H.I.G. has extensive experience, including tech-enabled business services, software, digital ad-tech, e-commerce/consumer, online/internet services, healthcare and industrial technology in North America.

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