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Laxman Pai, Opalesque Asia: Global alternative asset management firm H.I.G. Capital has closed buyout fund H.I.G. Capital Partners VI at $1.3 billion.
The alternative money manager with $40 billion of equity capital under management said in a press release that the Fund closed with aggregate capital commitments of $1.3 billion, well exceeding its target.
The Fund will continue the strategy of H.I.G.'s five predecessors lower middle-market funds, by making private equity investments in lower middle-market companies, primarily in North America.
H.I.G. Capital Partners V closed at $1 billion in 2013.
Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-CEOs commented: "We are grateful for the continued support from our longstanding investors, reflecting the strong performance and differentiated investment approach of our lower middle market strategy throughout H.I.G.'s 27-year history."
Investors include the $83.8 billion Virginia Retirement System, Richmond, and the $30.7 billion Texas County & District Retirement System, Austin.
Jordan Peer, Managing Director and Global Head of H.I.G. Capital Formation, said: "The Fund received overwhelming global support from our investors, allowing us to complete an entirely virtual fundraising process within a compact time frame of a few months. We are grateful for these long-standing partners across North America, Europe, the Middle East, and Asia."
"The current economic environment presents both challenges as w...................... To view our full article Click here
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