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H.I.G. Capital Closes $1.4B Bayside Loan Opportunity Fund

March 08, 2021, 07:40 AM
Filed Under: Private Equity

H.I.G. Bayside Capital, the distressed debt and special situation affiliate of H.I.G. Capital, announced the final closing of H.I.G. Bayside Loan Opportunity Fund VI (the “Fund”). The Fund closed with aggregate capital commitments of $1.4 billion, exceeding its target.

Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G. Capital, commented: “The Fund will continue H.I.G.’s successful investment strategy of focusing on investments in U.S. small and midcap special situation credit opportunities. We are thrilled with the strong response by our limited partners, which reflects their confidence in the capabilities of our team and our differentiated approach.”

John Bolduc, Executive Managing Director and Head of H.I.G. Credit, commented: “Economic conditions remain challenging, especially for smaller businesses. Our credit team is well positioned to address this need and capitalize on the compelling investment opportunities available. The Fund began investing in 2020 against the backdrop of the COVID-19 pandemic, and is already approximately 25% invested.”

Jordan Peer, Global Head of H.I.G. Capital Formation, added: “The Fund received strong global support in North America, Europe, and Asia from a prestigious and diverse institutional investor base including consultants, endowments, foundations, sovereign wealth funds, financial institutions, and public and corporate pensions.”

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