H.I.G. Capital targets global distressed debt market

H.I.G. Capital has held a first and final close of its new distressed debt fund, H.I.G. Bayside Capital II (Bayside II), on $3bn. Greenberg Traurig acted as legal council.

Bayside II will follow its predecessor funds and target stressed and distressed middle market and lower mid-market assets. It will have the ability to acquire existing debt on the secondary market, provide debt financing to companies that may not have access to such funding from traditional sources, and make equity investments into companies facing operational and/or structural challenges. The fund will typically invest in companies with an enterprise value of up to $400m (EUR250m) and will combine debt and/or equity financing, as well as acquiring existing debt and equity securities.

Managing partners Sami Mnaymneh and Anthony Tamer are responsible for managing the fund together with H.I.G.'s 150 investment professionals in the US and the UK. (Page 05).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Industry
• UK / Ireland