H.I.G. Capital Raises $740M For Latin America & Brazil Fund

Apr 7 2016 | 6:44pm ET

Global private equity manager H.I.G. Capital has closed its inaugural Latin America fund with $740 million in committed capital almost exactly a year after it named well-known Itausa executive Henri Penchas to its Latin American Advisory Board.

The new fund, named H.I.G. Brazil & Latin America Partners, had an initial target of $600 million, a soft target of $685 million and a rumored hard cap of $750 million. The new fund will concentrate on private equity, buyout and growth-oriented investments in lower-middle-market companies in Latin America, and carry a particular focus on Brazil.

H.I.G. established a presence in Latin America in 2012 and has been rapidly expanding there, becoming one of the most active investors in the small/mid-cap segmen and closing fourteen transactions in the region – three of which are in the new fund.

“We are delighted with the level of support we have received from our investors for this offering and are grateful for their trust,” said H.I.G. co-CEOs Sami Mnaymneh and Tony Tamer in a joint statement. 

“The current macro environment creates compelling opportunities to target undermanaged or capital constrained businesses that can benefit from H.I.G.’s expertise and resources,” added Fernando Marques Oliveira, head of H.I.G. Latin America. 

Founded in 1993, H.I.G. Capital is a leading global private equity investment firm with $19 billion of capital under management deployed across private equity, growth equity, real estate, debt/credit, lending and life sciences vehicles. The firm’s private equity activities have invested in and managed more than 200 companies worldwide since inception, with combined sales in excess of $30 billion. 

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