Alternative investment firm H.I.G. Capital has closed its H.I.G. Europe Realty Partners III fund, after securing an aggregate capital commitment of around $1.3bn.
H.I.G. Europe Realty Partners mainly targets value-add investments in the middle market real estate segment in Europe. The fund has made more than ten investments across various geographies in the continent.
It was supported by a various global group of limited partners.
These include public and private sector pensions, asset managers, consultants, endowments, foundations, fund of funds, financial institutions, and family offices in North America, Europe, Asia, and the Middle East.
H.I.G. Real Estate Funds Europe head Riccardo Dallolio said: “The Fund is well-positioned to capitalise on the current market opportunity set in the less efficient middle market segment across Europe.
“It will invest across the capital structure and asset classes with a particular focus on value-add and operational improvements to generate substantial asset appreciation.”
Based in the US, H.I.G. Capital is engaged in offering both debt and equity capital to mid-sized companies by using a flexible and operationally focused or value-added approach.
The global alternative investment firm has $64bn of capital under management.
According to H.I.G. Capital, the firm has invested in and managed over 400 companies around the world since 1993. The company’s current portfolio includes more than 100 companies with combined sales in excess of $53bn.
H.I.G. Capital co-founders Sami Mnaymneh and Tony Tamer said: “As we continue to expand our global real estate footprint, we are thrilled by the success of our European real estate platform as evidenced by the strong support from our investors.
“We believe the current environment, specifically in the U.K. and Germany, where market dislocations are driving meaningful repricing across asset classes, presents compelling investment opportunities for the Fund.”
