H.I.G. Capital closed its H.I.G. Middle Market LBO Fund IV with $5.5 billion in aggregate capital commitments, in addition to co-investment separately managed accounts of $450 million, exceeding its original target.
Jordan Peer Griffin, executive managing director and global head of capital formation, stated in a Sept. 12 release that the fundraise was "meaningfully oversubscribed during a very difficult fundraising environment."
Investors in the fund included the $254.1 billion New York State Common Retirement Fund, Albany; the $42.7 billion Texas County & District Retirement System, Austin; and the $1 billion Ohio State Highway Patrol Retirement System, Columbus.
H.I.G. also stated in the release that the fund was supported by its "long-standing investor base, and also welcomed new investors across the globe, in the U.S., Europe, Asia, Middle East and Latin America."
The previous fund in the series, H.I.G. Middle Market LBO Fund III, closed with $3.1 billion in commitments in 2019.
H.I.G. Capital has a total of $58 billion of capital under management, the release noted.
