H.I.G Bayside Raises $1.1B For Fourth Special Situation Debt Fund

Global private equity manager H.I.G. Capital’s Bayside distressed debt unit has closed its fourth credit opportunities fund with $1.1 billion in capital commitments, well ahead of its $1 billion target.

The new fund, named H.I.G. Bayside Loan Opportunity Fund IV, will invest in small-cap special situation credit opportunities in the United States, according to the company. 

It will have a broad mandate to invest in non-control loan obligations of stressed and distressed companies, including the ability to provide liquidity to troubled companies and to acquire the debt obligations of such companies. 

“The next several years will present a compelling opportunity to invest in U.S. special situation credit opportunities,” said John Bolduc, executive managing director and head of H.I.G. Bayside Capital, in a statement. “[This will be] driven by an inefficient secondary market for small-cap stressed/distressed loans and improving conditions for special situation investing. 

“Given H.I.G.’s special situation expertise and deal flow network, the Fund is ideally positioned to capitalize on these opportunities,” he added. 

H.I.G. Bayside raised more than $1 billion for its third fund in 2013. The firm invests across several segments of the primary and secondary debt capital markets with an emphasis on long-term returns.

Founded in 1993 and based in Miami, H.I.G. is a leading global private equity and alternative assets investment firm with over $20 billion of equity capital under management deployed across private equity, growth equity, real estate, debt/credit, lending and life sciences vehicles. The firm’s private equity activities have invested in and managed more than 200 companies worldwide since inception.