- Firm sees loans to wide variety of borrowers
- Multi-strategy firm has arm dedicated to debt
- CLO issuance may climb 39 percent in 2013
H.I.G. WhiteHorse, the credit arm of H.I.G. Capital LLC, announced that it has closed a collateralized loan obligation fund, WhiteHorse VI Ltd, at $415.5 million. RBS Securities served as placement agent for a portion of the securities, H.I.G. WhiteHorse said.
The firm said it will use the vehicle to participate in loans to a wide variety of borrowers across a spectrum of industries.
Miami-based H.I.G. Capital, with more than $10 billion of equity capital under management, is a multi-strategy private equity firm with specialized operations focusing on areas including growth equity, life sciences, real estate, lending, Europe and Latin America, according to the firm’s Web site.
H.I.G WhiteHorse offers a range of senior and subordinated debt for refinancing, growth capital, acquisitions, buyouts and balance sheet recapitalizations. Its credit facilities typically range from $15 million to $100 million for mid-market borrowers with revenue of $50 million or more, and the firm says it can participate in the broadly syndicated market up to several billion dollars. H.I.G. WhiteHorse has 12 offices in the United States, Europe and South America and more than 250 investment professionals.
CLOs themselves are not dedicated to leveraged lending, but an estimated 40 percent of broadly syndicated leveraged loans end up in CLOs, according to sister service Thomson Reuters Loan Pricing Corp., which tracks the loan market. The CLO market is likely to reach $75 billion in 2013, an increase of 39 percent from last year, LPC projects.