Alternative asset management firm H.I.G. Capital has closed its H.I.G. Infrastructure Partners fund, securing an aggregate capital commitment of around $1.3bn.
H.I.G. Infrastructure Partners aims to pursue control-oriented, infrastructure equity investments focused on the middle market segment.
By leveraging H.I.G. Capital’s expertise in operational value creation and focus on the middle market, the fund has already completed seven investments across North America and Europe. Additionally, it intends to close two more investments in Q3 2024.
The fund was backed by various and global group of limited partners.
These include sovereign wealth funds, public and private sector pensions, asset managers, consultants, insurance companies, foundations, endowments, and family offices in North America, Europe, Asia, and the Middle East.
H.I.G. Infrastructure co-heads Andrew Liau and Ed Pallesen said: “The Fund is well-positioned to capitalise on opportunities in the less efficient middle market. H.I.G.’s unique platform provides us with a demonstrated, differentiated sourcing model and a deep pool of resources focused on operational value creation.
“We believe this allows us to generate strong returns, especially as the industry adjusts to higher interest rates and macro volatility.”
Based in the US, H.I.G. Capital is engaged in offering both debt and equity capital to mid-sized companies by using a flexible and operationally focused or value-added approach,
The global alternative investment firm has $64bn of capital under management.
According to H.I.G. Capital, the firm has invested in and managed over 400 companies around the world since 1993. The company’s current portfolio includes more than 100 companies with combined sales in excess of $53bn.
H.I.G. Capital co-founders Sami Mnaymneh and Tony Tamer said: “We greatly appreciate the strong support from our investors for our Infrastructure strategy.
“Their confidence in our investment approach to infrastructure underscores the power of the Firm’s platform and our ability to generate strong returns through value creation in the underserved middle market.”
