HIG Capital targets €760m for second Europe fund

The GP stated in the SEC filing that it was expecting to reap $148.5m in overall management fees, which would equate to a rate of around 1.5% per year. The vehicle is domiciled in the Cayman Islands and HIG plans on raising the capital within a year.

The GP's previous Europe fund, HIG European Partners, was launched in 2007 with a target of €500m. It closed on its hard-cap of €600m and received commitments from Allianz Group, Credit Suisse and Deutsche Bank, as well as US investors including endowments, insurance companies and other private equity firms.

HIG European Partners' most recently acquired portfolio companies include UK branded merchandise provider Brand Addition, which was bought last March for £24m; French industrial boiler manufacturer CTI Group, in which HIG acquired a 25% stake; and UK-based point-of-sale marketing provider Bezier.

The firm typically invests in the SME market, in companies with an enterprise value of $50-500m.

Paul Canning, managing director at HIG's London branch, led the GP's first Europe fund. Sami Mnaymneh and Anthony Tamer are the co-founders and managing partners of HIG.

HIG could not yet be reached for comment.

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