Bayside Capital has held a final close for HIG Bayside Loan Opportunity Fund V (Europe) at $1.5 billion. The fund will continue prior European funds’ focus on investing in small-cap, special situations credit opportunities in the region.
HIG said it had received support for the new fund from North America, Europe and Asia, with institutional investors including consultants, endowments, foundations, sovereign wealth funds, financial institutions and public and corporate pensions.
The prior three funds in the European series all closed on $1.1 billion, slightly above their $1 billion target. Fund IV was a 2014 vintage, Fund III was 2012, and Fund II was 2010.