US private equity firm HIG Capital has reportedly relocated managing director Mark Kelly from London to Chicago to bolster its Midwest investment activity.
Kelly leads a two-strong team of Zaid Pardesi and Chaz Bauer according to Dow Jones, which said the firm planned to bring in more people for the team at principal, vice president and associate levels over the next couple of years.
He told Dow that the firm had previously run its Midwest investment activity from Miami, Boston and San Francisco, which is “never ideal”.
Kelly said his team would target businesses operating in industries including food, manufacturing, consumer, business services and industrial, focusing on businesses with between $5m and $35m of EBITDA and revenue of between $50m and $400m.
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