HIG Capital closes third fund at €825m

The European fund of Miami-based firm HIG Capital was ‘significantly’ oversubscribed from existing investors and closed after spending less than three months in market.

HIG Europe has wrapped up fundraising for its latest vehicle in less than three months, according to a statement. 

The firm closed HIG European Capital Partners II at €825 million, which is above its €750 million hard-cap, according to PEI’s Research and Analytics division. 

The fund was “significantly oversubscribed from existing HIG investors”, according to a statement. 

The fund will be larger than its €600 million predecessor, HIG Europe Capital Partners I, a 2007 vintage, but will have the same strategy. 

HIG Europe will use the fund for buyouts and growth capital investments in the lower mid-market in Western Europe. 

In May, the firm made its first investment in Scandinavia, by acquiring Freedom Finance Nordic, a consumer loan broker operating in Sweden, Norway and Finland. Earlier that month, HIG Europe sold Anvis Group, an automotive supplier of road safety products to trade buyer Tokai Rubber Industries for an undisclosed amount. 

HIG Europe has four offices in Europe — in London, Paris, Hamburg. It also has an office in Madrid, which it opened in the beginning of last year. It has more than €9 billion of equity capital under management, according to its website.