Global asset management firm H.I.G. Capital announced the closing of Europe Real Estate Fund-H.I.G. Europe Realty Partners II fund- with aggregate capital commitments of €673 million ($760 million), well above its target.
The Fund will principally make value-add investments in the small and mid-cap real estate sector in Europe.
“We are delighted with the success of H.I.G. Europe Realty Partners II. The Fund will continue to build on our local, on the ground pan-European presence and is already 16% committed. We continue to find compelling opportunities to invest in the region.” said Sami Mnaymneh and Tony Tamer, Co-CEOs of H.I.G.
Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners, commented: “This closing validates H.I.G. Europe Realty’s differentiated strategy. The Fund will invest in Europe across the capital structure and asset classes with a particular focus on its target market of small and mid-cap real estate opportunities. It will utilize H.I.G.’s hands-on, value-added and operationally focused approach to generate substantial asset appreciation.”
Added Jordan Peer, Head of H.I.G. Capital Formation, “The Fund was supported by a premier group of real estate institutional investors across the U.K., Germany, Nordics, Switzerland, Spain and Italy, as well as from international investors across the U.S., Asia and Middle East. We are grateful for these long-standing partners for their commitment to multiple H.I.G. real estate strategies, globally. Our Limited Partners consist of consultants, sovereign wealth funds, endowments, foundations, insurance and financial institutions and public and private pensions.”
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