H.I.G. Bayside Capital—a special situations credit affiliate of H.I.G. Capital, a leading global alternative investment firm with $66 billion of capital under management—announced the final closing of H.I.G. Bayside Loan Opportunity Fund VII. The fund closed with $1 billion of aggregate capital commitments and continues the Firm’s successful strategy of investing in special situation credit opportunities in the European middle market.
Launched in 2006, H.I.G. Bayside’s European strategy invests primarily in senior secured European stressed and special situations credit, targeting equity-like returns. And the fund’s disciplined approach to portfolio construction and deal selection has consistently resulted in higher returns and a lower level of volatility relative to comparable credit indices.
KEY QUOTES:
“H.I.G. is one of the largest and most active credit investors dedicated to the middle markets. The H.I.G. Bayside Europe team benefits from our highly synergistic platform across the U.S., European, and Latin American middle markets, as evidenced by the risk-adjusted returns the Firm has generated over multiple cycles.”
- Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-Executive Chairmen
“We are very pleased to have fresh capital to deploy into one of the most compelling market environments for special situations credit investing where a significant number of levered European businesses are facing challenges. Our team is well positioned to capitalize on the investment opportunities available.”
- Andrew Scotland and Duncan Priston, H.I.G. Bayside Europe Fund Co-Heads
“We aim to provide limited partners with a full spectrum of investment opportunities across private equity, credit, and real assets in the middle market. Limited partner backing of the Fund demonstrates strong interest in the middle market and conviction in H.I.G.’s differentiated approach. We are thankful for the strong support the Fund received from a diverse and global investor base in North America, Europe, Asia, and the Middle East, including public and private sector pensions, endowments, foundations, asset managers, consultants, fund of funds, financial institutions, and family offices.”
- Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation
