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Laxman Pai, Opalesque Asia:

Global alternative asset management firm H.I.G. Capital announced that its distressed debt and special situation affiliate H.I.G. Bayside Capital closed special situations credit fund H.I.G. Bayside Loan Opportunity Fund VI at $1.4 billion.

According to a press release from the private equity and alternative assets investment firm with over $43 billion of equity capital under management, Fund VI exceeded its fundraising target. The target amount was not disclosed.

H.I.G. Bayside Loan Opportunity Fund VI invests in U.S. small- and midcap special situation credit opportunities. The previous fund, H.I.G. Bayside Loan Opportunity Fund V, closed at $1.5 billion in 2019.

Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G. Capital, said: "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."

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."

Investors include the Illinois Municipal Retirement Fund, Oak Brook......................

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