HIG appoints European head of direct lending

Appu Mundassery, who joined the firm in 2009 and is based in the firm’s London office, will lead the firm’s European credit operations.

Private investment firm HIG Capital has promoted Appu Mundassery to lead its European direct lending team.

Mundassery joined the firm in 2009 as a managing director and is based in the firm’s London office. The US-headquartered firm has offices across Europe, including in France, Germany, Italy and Spain. The direct lending team targets investments in companies with an EBITDA of €25 million.

John Bolduc, HIG executive managing director, said: “He has done a terrific job helping us develop our direct lending business in Europe and under his leadership, I am confident that we will further build upon our leading position.”

Mundassery works on the WhiteHorse team, the direct lending vehicle of HIG. In May, the firm provided a €40 million unitranche facility supporting Belgium-based industrial company Group Legirs’s acquisition of Schiederwerk.

In July, the firm’s affiliate HIG Bayside, which focuses on special situations, raised a total of $1.1 billion on its fourth Loan Opportunity Fund. The fund targets investments in small-cap special situation credit opportunities across the US. On the European side, the firm partnered with IDeA Capital Funds, an Italian debt investment firm, on the launch of a fund specifically targeting distressed investments in Italy. The fund held a first close on €260 million in July.

Across all of its three platforms (equity, direct lending and special situations), the firm has €20 billion of equity capital under management and operates from offices in South America, in addition to its US and European locations. Established in 1993, its portfolio includes 100 companies with combined total sales above $30 billion.