H.I.G. Capital has completed the final close of its latest European lower middle-market private equity fund at €1.6bn, marking an oversubscribed raise completed within six months of launch.

H.I.G. Europe Capital Partners IV will continue the firm’s strategy of acquiring control stakes in under-managed and operationally complex businesses across Europe. The firm said the fund attracted strong demand from both existing and new limited partners despite a challenging fundraising backdrop.

“H.I.G.’s global platform gives us the scale, resources, and operating capabilities that differentiate us in the middle market,” said co-founders and co-executive chairmen Sami Mnaymneh and Tony Tamer.

The firm has operated in Europe for 19 years and employs more than 150 investment professionals across offices in London, Milan, Hamburg, Paris, and Madrid. Since 2007, H.I.G. has completed 92 platform investments in the region across its lower middle-market and middle-market strategies.

Wolfgang Biedermann, head of H.I.G. private equity in Europe, said the fund was launching “at a particularly attractive moment in time”, citing opportunities created by complex situations and difficult transaction dynamics.

The close reinforces the ability of established, operationally focused managers to continue raising capital for European buyouts, even as fundraising conditions remain selective.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.