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Laxman Pai, Opalesque Asia: The Miami-based H.I.G. Capital has wrapped up fundraising for its latest middle-market leveraged-buyout fund - H.I.G. Middle Market LBO Fund III, collecting more than its $3 billion target in barely four months.
The fund will make private equity investments in middle-market companies, primarily in North America, said the private equity and alternative assets investment firm with over $34 billion of equity capital under management.
According to Jordan Peer, Head of H.I.G. Capital Formation, the Fund received overwhelming support from H.I.G.'s long-standing Limited Partners.
"Commitments were received from a prestigious and diverse institutional investor base, including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices across the U.S., Europe, Asia, and the Middle East," he said.
Investors include the $82 billion Virginia Retirement System, Richmond; $31.9 billion Texas County & District Retirement System, Austin; and the $14.9 billion Augusta-based Maine Public Employees' Retirement System.
Sami Mnaymneh and Tony Tamer, Founders and Co-CEOs of H.I.G., said: "We are pleased with the level of support received from our investors, reflecting the performance of the H.I.G. Middle Market team and its differentiated investment approach."
Rick Rosen, Head of H.I.G. Middle Market, said: "The team is excited to build upon H.I.G.'s successful middle-market strategy with thi...................... To view our full article Click here
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