H.I.G. Capital

Infobox_Company
company_
company_name = H.I.G. Capital
company_type = Private Ownership
foundation = 1993
location =
industry = Private Equity
products = Private equity funds, Leveraged buyouts, Venture capital, Distressed securities, Hedge funds
assets = $7.5 billion
homepage = [http://www.higcapital.com/ www.higcapital.com]

H.I.G. Capital is an alternative investment firm that operates a family of private equity and venture capital funds as well as distressed debt and public equity hedge funds. The firm's roots trace back to middle-market leveraged buyouts, management buyouts, leveraged recapitalizations, and growth capital investments.

The firm was founded in 1993 and is headquartered in Miami, Florida with offices in Atlanta, Boston, San Francisco and London. Today the firm operates in several related sectors in private equity and alternative investments:

* H.I.G. Capital – Private Equity – A $3.5 billion platform focusing on leveraged buyouts, management buyouts and leveraged recapitalizations of established and profitable manufacturing and service companies as well as growth capital investments in less mature companies.

* H.I.G. Europe – Private Equity – The European affiliate of H.I.G. Capital focuses on middle market transactions investing from a dedicated €600 million European private equity fund. In 2007, H.I.G. Europe received the "Fund of the Year" award from the European Private Equity and Venture Capital Association (EVCA). ("See: Trademark Controversy")

* H.I.G. Ventures – Venture Capital – A $550 million venture capital practice, H.I.G. Ventures invests in growth stage and expansion stage companies, specifically in the information technology, life sciences and business services sectors. [" [http://www.altassets.com/news/arc/2007/nz11252.php H.I.G. Capital closes €600m fund for Europe, opens three European offices] ." AltAssets, July 9, 2007]

* Bayside Capital – Distressed securities – a $3.5 billion special situations platform, Bayside makes investments in companies with distressed or over-leveraged balance sheets, through a variety of investments including equity infusions; secondary market purchases of debt throughout the capital structure; out of court restructurings, turnarounds and bankruptcies; debtor in possession (DIP) financings and special situations lending. [" [http://www.altassets.com/news/arc/2008/nz13508.php H.I.G. Capital closes $3bn distressed fund] ." AltAssets, June 11, 2006]

* Brightpoint Capital – Public equities – Operating as a hedge fund, Brightpoint invests primarily in small and mid-capitalization publicly traded companies and, to a lesser extent, in less liquid, non-control investments.

History

H.I.G. was founded in 1993 by Anthony (Tony) Tamer, previously a partner at Bain & Company and Sami Mnaymneh, formerly a managing director at The Blackstone Group. In 1993, the first HIG fund was originally launched with a $73 million hybrid leveraged buyout / venture capital fund, drawing on the backgrounds of its two founding partners. Since its founding, H.I.G. had raised nine investments funds as of 2008:

*HIG Capital Partners I (1993) - $125 million hybrid fund focused on both leveraged buyouts and venture capital
*HIG Capital Partners II (1998) - $255 million fund, focused on leveraged buyouts
*HIG Venture Capital (1999) - $225 million fund, focused on venture capital
*HIG Capital Partners III (2002) - $450 million fund, focused on leveraged buyouts
*Bayside Opportunity Fund (2004) - $500 million fund, focused on distressed securities
*HIG Venture Partners II (2005) - $300 million fund, focused on venture capital
*HIG Capital Partners IV (2006) - $750 million fund, focused on leveraged buyouts
*HIG European Capital Partners (2007) - €600 EUR million fund, focused on European leveraged buyouts
*H.I.G. Bayside Debt and LBO fund II (2008) - $3000 million fund, focused on distressed securities

Trademark Controversy

In 2007, HgCapital, a European private equity firm launched a trademark infringement lawsuit against H.I.G. Capital after it intensified its efforts in Europe. [James Mawson and Paul Hodkinson. " [http://www.efinancialnews.com/homepage/content/2450948756 HIG and HgCapital spat over name reaches court] ." Dow Jones Financial News, June 16, 2008 ]

Facing what it perceived as encroacment in its own market, in March 2008, H.I.G. Capital sent a letter to H&G Capital Partners demanding that the firm change its name. H&G, which was founded in 2007 is named after its two founders Jon Huntsman, Sr. and Bob Gay, formerly of Bain Capital. H.I.G. subsequently sued H&G, hoping to prevent H&G Capital from using the name. [ " [http://216.239.59.104/search?q=cache:QXs9SoCjYa0J:www.buyoutsnews.com/story.asp H.I.G. Battles H&G In Name Dispute] ." Buyouts, April 28, 2008]

External links

* [http://www.higcapital.com/ HIG Capital] (company website)
* [http://www.higventures.com/ HIG Ventures] (company website)
* [http://www.brightpointcapital.com/ Brightpoint Capital] (company website)
* [http://www.bayside.com/ Bayside Capital] (company website)
* [http://www.higeurope.com/ HIG Europe] (company website)
* [http://investing.businessweek.com/businessweek/research/stocks/private/snapshot.asp?privcapId=20947 H.I.G. Capital Profile] ] (BusinessWeek)

References

* " [http://query.nytimes.com/gst/fullpage.html?res=9C06EFD6133CF93BA2575AC0A96F958260 HAPPY KIDS, CHILDREN'S WEAR COMPANY, ACCEPTS BID] ." New York Times, September 18, 1999
* " [http://dealbook.blogs.nytimes.com/2008/05/12/hig-capital-to-finance-shapes-bankruptcy/ H.I.G. Capital to Finance Shapes Bankruptcy] ." New York Times, May 12, 2008
* " [http://www.altassets.com/news/arc/2006/nz9357.php US firm H.I.G. Capital closes fourth buy-out fund on $750m] ." AltAssets, September 19, 2006