H.I.G. Bayside Capital closes H.I.G. Bayside Loan Opportunity Fund IV

By Tali Rackner

Norfolk, Va., July 6 – H.I.G. Bayside Capital announced the new H.I.G. Bayside Loan Opportunity Fund IV, which closed with aggregate capital commitments of $1.1 billion, exceeding its $1 billion target, according to a press release.

The fund will have a broad investment mandate to invest in non-control loan obligations of stressed and distressed companies in the United States, including the ability to provide liquidity to troubled companies and to acquire the debt obligations of those companies, the release said.

It will follow the same investment strategy used by H.I.G. over the last 12 years in investing in special situation credit opportunities in the United States and Europe through four predecessor pools of capital.

“The next several years will present a compelling opportunity to invest in U.S. special situation credit opportunities, driven by an inefficient secondary market for small-cap stressed/distressed loans and improving conditions for special situation investing,” John Bolduc, executive managing director and head of H.I.G. Bayside, said in the release.

“Given H.I.G.’s special situation expertise and deal flow network, the fund is ideally positioned to capitalize on these opportunities.”

H.I.G. Bayside Capital is the distressed debt and special situation affiliate of H.I.G. Capital LLC, a Miami-based private equity investment firm.

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