H.I.G. WhiteHorse, the direct lending credit affiliate of H.I.G. Capital, a global alternative asset management firm with $70 billion of capital under management, today announced the final closing of H.I.G. WhiteHorse Middle Market Lending Fund IV.
Fund IV closed with “$5.9 billion of assets and continues the firm’s strategy of originating senior secured loans across the U.S. middle market.”
H.I.G. WhiteHorse has invested approximately “$18 billion in U.S. direct lending transactions.”
The WhiteHorse team has invested in over “285 middle market companies, primarily through senior secured floating rate loans, often with bespoke terms and conservative loan-to-value ratios.”
Fund IV focuses on originating senior secured loans “to both sponsor and non-sponsor borrowers with EBITDA generally between $30 and $100 million.”
Fund IV was supported by a global “group of limited partners that include public and private sector pensions, sovereign wealth funds, endowments, foundations, consultants, financial institutions, and family offices in North America, Europe, Asia, and the Middle East.”
As noted in the update, H.I.G. WhiteHorse provides “debt financing to both non-sponsor and sponsor middle market companies across a wide range of industries, including Business Services, Industrials, Consumer and Retail, Financial Services, Healthcare, and Telecom, Media and Technology.”
H.I.G. WhiteHorse’s team of 85 credit professionals, “across the U.S. and Europe, brings experience and a track record of providing creative financing structures and employing a relationship-oriented portfolio management philosophy.”
As mentioned in the announcement, H.I.G. Capital is a “global alternative investment firm with $70 billion of capital under management.”
Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, and Stamford in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing “debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach.”
H.I.G.’s equity funds invest in “management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.”
H.I.G.’s debt funds invest in “unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.”
H.I.G.’s real estate funds invest in value-added properties, which “can benefit from improved asset management practices.”
H.I.G. Infrastructure focuses on making “value-add and core plus investments in the infrastructure sector.”
Since its founding in 1993, H.I.G. has “invested in and managed more than 400 companies worldwide.”
The firm’s current portfolio reportedly includes “more than 100 companies with combined sales in excess of $53 billion.”
