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HIG Capital closes second Europe fund on €825m after just three months

2 Jul 2013

europe_map_170sqMiami-based private equity firm HIG Capital has closed its second Europe-focused fund on €825m in just three months, well above its initial €750m target.

The firm said its latest vehicle would continue the strategy of its European Capital Partners I fund in targeting lower mid-market businesses, primarily in Western Europe.

A joint statement from HIG co-founders and managing partner Sami Mnaymneh and Tony Tamer said, “We are very pleased to have completed this fundraising in less than three months, and, in particular, that the fund was significantly over-subscribed from existing HIG investors.

“The new fund will continue our successful strategy of investing in privately-held companies and non-core subsidiaries of larger companies, especially those which present significant opportunities for earnings improvement and value creation.”

HIG Europe’s team has more than 50 investment professionals across office in London, Paris, Hamburg and Madrid.

The firm has completed 28 European investments since it began investing in 2008.

In May the firm held a final close for HIG Bayside Loan Opportunity Fund III, exceeding its $1bn target.

That fund will invest primarily in debt obligations of small and medium-sized European companies, both existing loans acquired on the secondary markets as well as newly originated primary loans.

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