HIG Capital's Andrew Steel leaves

The firm confirmed the departure, though he still remained on their website at the time of going to press.

According to Steel's LinkedIn profile, he was a partner at HIG, though the firm's site names him a principal.

Steel had been with HIG since 2007, when the firm raised its first European fund on its €600m hard-cap. Earlier this year the firm raised a follow-on to that, surpassing its €760m target to reach €825m after a three-month effort. Filings with the SEC suggest a 1.5% management fee.

Deals Steel worked on while at HIG include the buyout of Synseal Extrusions, a UK window and conservatory business; an investment in UK marketing firm Bezier; and the backing of UK financial services firm FNZ.

Steel joined HIG from retailer Home Depot, where he directed acquisitions of complementary businesses. His career also included time with building materials conglomerate Caradon and law firm Booz Allen & Hamilton.

Steel holds an honours degree in economics from St Andrews University and has an MBA from Harvard Business School, where he was a Bobby Jones Scholar.

Sami Mnaymneh and Tony Tamer are co-founders and managing partners of HIG. Paul Canning is managing director in the firm's London office.

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