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H.I.G. WhiteHorse’s Successful Fund IV Closure

On August 13, 2025, H.I.G. WhiteHorse, a direct lending subsidiary of H.I.G. Capital, announced the closing of its Middle Market Lending Fund IV, raising an impressive $5.9 billion in assets. This fund will continue H.I.G. WhiteHorse's successful strategy of providing senior secured loans to the U.S. middle market, which is characterized by companies with an EBITDA between $30 million to $100 million.

With approximately $18 billion invested in direct credit transactions across the United States, H.I.G. WhiteHorse has built a strong portfolio, having invested in over 285 middle-market companies. The firm primarily focuses on senior secured loans with variable interest rates, applying tailored terms and conservative loan-to-value ratios to ensure stability and investment quality.

Strategic Focus on Middle Market

The co-founders and co-chief executive chairs of H.I.G., Sami Mnaymneh and Tony Tamer, expressed confidence in the firm’s disciplined approach to maintaining its focus on the middle market. They believe that H.I.G. WhiteHorse is well-positioned to distinguish itself in the competitive lending landscape, catering not only to sponsor-backed borrowers but also to those without sponsors.

Stuart Aronson, the CEO of H.I.G. WhiteHorse, emphasized the attractive opportunities presented in the coming years for companies in search of private debt solutions. With 24 originators operating in 13 regional markets, the firm showcases a robust capability to deliver a diverse deal flow to its investors, which is vital for sustained success in the current financial climate.

Diverse Investor Support

H.I.G. WhiteHorse's Fund IV attracted a varied group of limited partners, including public and private pension funds, state investment funds, endowments, and foundations across North America, Europe, Asia, and the Middle East. This diverse backing reflects the fund’s appeal and the trust placed in H.I.G.’s ability to deliver exceptional risk-adjusted returns under fluctuating market conditions.

Jordan Peer Griffin, executive managing director and head of Capital Formation, highlighted the rigorous private equity-style credit underwriting approach as a means to ensure downside protection while aiming for attractive returns. This method not only supports the fund's objectives but also aligns with the interests of its partners.

H.I.G. WhiteHorse's Broader Role

H.I.G. WhiteHorse specializes in providing debt financing to both sponsor and non-sponsor companies across a wide range of sectors, including business services, industry, consumer and retail, financial services, healthcare, and telecom, media, and technology.

The firm primarily focuses on senior secured loans for refinancing, growth capital, acquisitions, buyouts, and balance sheet restructurings. The team consists of 85 credit professionals dispersed across the U.S. and Europe, equipped with extensive experience and a proven track record in providing creative financing solutions, underscored by a long-term relationship-oriented philosophy in portfolio management.

H.I.G. Capital, the parent company of H.I.G. WhiteHorse, is a global alternative asset management firm, capable of managing about $70 billion in assets. Established in 1993 and headquartered in Miami, the company leverages a flexible and operationally focused approach to add value through both equity and debt investments in middle-market businesses.

In summary, the closing of Fund IV marks a significant milestone for H.I.G. WhiteHorse, which aims to reinforce its leadership in the middle market lending sector by prioritizing uniquely structured financial solutions tailored to the evolving needs of its borrowers. This continued emphasis on strategic opportunities defines the company’s future direction in an ever-competitive landscape.