H.I.G. Capital Closes US$1.3 Bln Infrastructure Fund

KUALA LUMPUR, June 25 (Bernama) -- H.I.G. Capital (H.I.G.), a global alternative asset management firm, has announced the closing of H.I.G. Infrastructure Partners (Fund), with aggregate capital commitments of approximately US$1.3 billion. (US$1=RM4.70)

The Fund seeks to make control-oriented, infrastructure equity investments focused on the middle market segment, leveraging the firm’s focus on the middle market and its operational value creation expertise.

To date, across North America and Europe, the Fund has made seven investments, two of which are expected to close in the third quarter of this year, according to a statement.

“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,” said H.I.G. Co-Founders, Sami Mnaymneh and Tony Tamer.

Meanwhile, H.I.G. Infrastructure Co-Heads, Andrew Liau and Ed Pallesen commented that 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.”

The Fund was supported by a diverse and global group of limited partners that include sovereign wealth funds, public and private sector pensions, as well as insurance companies in North America, Europe, Asia, and the Middle East.

Based in Miami, H.I.G. has invested in and managed over 400 companies worldwide since its founding in 1993 with current portfolio includes more than 100 companies.

-- BERNAMA