H.I.G. Capital raised $6 billion for its latest middle-market leveraged buyout fund, a figure that includes $450 million of co-investment capital.
The firm initially targeted $5 billion for the vehicle, which was offered to new investors for the first time since the strategy was conceived for a 2008 fund.
“It has been a challenging fundraising environment, particularly due to limited partners that have been impacted by the denominator effect,” Executive Managing Director Jordan Peer Griffin said in an emailed statement, referencing the fact that some institutional investors have been forced to trim their exposure to asset classes such as private equity following a sharp decline in public markets.
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