Wednesday June 11, 11:10 AM
H.I.G. Bayside II raises $3 bln private equity fund
LONDON (Thomson Financial) - Bayside Capital, Inc., an affiliate of U.S.-based alternative asset firm H.I.G. Capital LLC. has raised $3 billion for its latest private equity fund H.I.G. Bayside II, according to an HIG press release issued
on Wednesday.
HIG said that Bayside II would invest in mid-market firms in turnaround situations, partly by acquiring debt on the secondary market.
Bayside II will also invest directly in firms with an enterprise value of up to 250 million euro by providing loans and equity.
'The new Bayside fund complements the capacity of our 600 million euro H.I.G. Europe fund, which is currently being managed by a European team of 40 investment professionals,' said Wolfgang Biedermann, managing director of H.I.G. European Capital Partners GmbH.
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