HIG affiliate closes $3bn distressed debt fund

Bayside Capital will provide refinancing and equity infusions to companies with total enterprise values of less than $400m.

HIG Capital’s distressed debt and turnaround affiliate, Bayside Capital, has closed its second fund on $3 billion (€1.9 billion).

Bayside Capital II will be used to provide equity infusions and refinancing packages to small- to mid-market companies experiencing financial hardships. The firm, which shares its Miami headquarters with HIG, will also use the global fund to purchase existing debt on the secondary market.

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