HIG Capital expands credit platform with WhiteHorse Capital assets

By Ashley Montgomery

Kansas City, Kan., Oct. 6 - HIG Capital LLC announced that it has gained some assets of CLO manager WhiteHorse Capital and combined WhiteHorse resources with HIG's loan origination team to form HIG WhiteHorse.

The acquisition brings $1.7 billion of capital in addition to the $4 billion currently managed by HIG.

"The combination of HIG. and WhiteHorse creates a unique platform for providing credit to small and mid-cap companies," said Ethan Underwood, co-managing partner of WhiteHorse Capital, in the release.

This new entity is a "significant expansion" of HIG's credit platform, the company said in a news release, and it will have more than $1 billion of capital available for refinancings, growth capital, acquisitions and other needs of American and European businesses.

"H.I.G. WhiteHorse will benefit from WhiteHorse's strong track record, deep relationships and extensive credit experience as well as the global resources and small-cap expertise of H.I.G.," said Tony Tamer, co-managing partner of H.I.G., in the release.

WhiteHorse Capital was founded in 2003 by Jay Carvell, Underwood and Jarred Worley.

WhiteHorse Capital will remain a manager of leveraged credit structures in the loan market.

HIG Capital is a private equity investment firm based in Miami.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.