H.I.G. Capital's credit business closed its latest fund, H.I.G. WhiteHorse Direct Lending Fund – 2020, with about $1.65 billion in total assets, exceeding its fundraising target, according to a news release.
H.I.G. WhiteHorse's latest fund will originate senior secured loans primarily for non-private equity-backed U.S. companies.
"The next several years will present a compelling opportunity to partner with non-sponsor-owned companies in need of private debt solutions," said Stuart Aronson, head of U.S. direct lending, in the release.
Investors in the fund include the $137.9 billion New York State Teachers' Retirement System, Albany.