H.I.G. Capital announced the close of its latest global infrastructure offering with $1.3 billion in commitments.
The $64 billion alternative asset shop has been steadily building up its infrastructure capabilities, most recently with the hiring of Macquarie Asset Management alum John Bruen last August to lead a dedicated infrastructure team as managing director in the London office.
H.I.G. Infrastructure Partners has already made seven investments, two of which are expected to close in the third quarter. The team makes control-oriented, infrastructure equity investments focused on the middle market segment, leaning on H.I.G.’s focus on the middle market and its operational value creation expertise.
“H.I.G. has a differentiated investment strategy in Infrastructure by executing H.I.G.’s hands-on value creation playbook in the underserved and less efficient middle market,” said Jordan Peer Griffin, executive managing director and global head of capital formation. “We are pleased with the strong backing by many of H.I.G.’s long-standing platform investors for the Fund, as well as by many new investors from around the world.”
The team’s focus in the less efficient middle market along with its sourcing model and deep pool of resources is set to allow the platform to generate strong returns as the industry adjusts to higher interest rates and macro volatility, according to Co-heads of H.I.G. Infrastructure Andrew Liau and Ed Pallesen. Liau is based in London and joined in 2020 from Ardian to lead the firm’s efforts in Europe. Pallesen joined H.I.G.’s New York office in 2019 from Goldman Sachs to lead the infrastructure effort in the U.S.