H.I.G. Capital Concludes $1 Billion Closing of Bayside Loan Opportunity Fund VII

H.I.G. Capital Completes the Closure of Bayside Loan Opportunity Fund VII

In a significant development for financial markets, H.I.G. Bayside Capital, a renowned firm specializing in special credit situations, has successfully closed its Bayside Loan Opportunity Fund VII with total capital commitments amounting to $1 billion. This latest fund represents a continuation of the firm’s established strategy of identifying credit opportunities within the European mid-market.

Founded in 2006, H.I.G. Bayside's European strategy focuses on investing in senior secured European credits primarily aimed at distressed companies or those undergoing special situations. The investment strategy has proven to be lucrative, offering returns that match those of equities, while maintaining lower volatility levels compared to similar credit indices. Notably, the predecessor of Fund VII, the H.I.G. Bayside Loan Opportunity Fund V, earned accolades as the “Best Performing Debt Fund” by Private Equity Wire/Bloomberg in 2022.

Co-founders and co-executive chairpersons Sami Mnaymneh and Tony Tamer remarked on H.I.G.'s status as one of the largest and most dynamic middle-market credit investors, indicating that the team has effectively leveraged their synergistic platform across the U.S., Europe, and Latin America. This has been underscored by their industry-leading risk-adjusted returns cultivated over multiple economic cycles.

Andrew Scotland and Duncan Priston, co-directors of the H.I.G. Bayside Europe Fund, express enthusiasm regarding the newly raised capital, highlighting the attractiveness of the current investing climate for special situation credits. The duo pointed out that many leveraged European companies are presently encountering challenges, and their team is well-positioned to seize advantageous investment opportunities.

Furthermore, Jordan Peer Griffin, executive director and global head of capital formation, emphasized H.I.G.'s commitment to offering a wide spectrum of investment opportunities, ranging from private equity to credit and real estate within the middle markets. He also acknowledged the strong support the fund received from a diverse base of limited partners, including public and private pensions, endowments, foundations, asset managers, consultants, fund-of-funds, financial institutions, and family offices from regions such as North America, Europe, Asia, and the Middle East.

H.I.G. Capital manages around $66 billion in capital and is recognized as a leading global alternative investment firm. Headquartered in Miami, it has offices spread across major cities worldwide, including Atlanta, Boston, Chicago, Los Angeles, and New York in the U.S., as well as international locations in Europe and Latin America.

The diverse investment strategy involves management buyouts, recapitalizations, and spin-offs of both profitable and underperforming companies. H.I.G. also engages in debt financing, focusing on senior, unitranche, and junior debt financing across a dynamic spectrum of companies, while managing publicly traded BDCs and real estate funds that invest in value-add properties.

Since its inception in 1993, H.I.G. has invested in over 400 companies globally, managing an extensive portfolio comprising more than 100 companies that collectively generate over $53 billion in revenue. For further information about H.I.G. Capital and its diverse investment strategies, visit their official website at hig.com.