HIG WhiteHorse Provides Funding to Avalon
LONDON–(COMMERCIAL THREAD) – HIG WhiteHorse, a credit affiliate of global investment firm HIG Capital (“HIG”) is pleased to announce that it has set up a Â£ 55million unitranche financing for AnaCap Financial Partners (âAnaCapâ) to support its industry growth and consolidation strategy in the UK wealth management platform industry. To date, AnaCap, one of Europe’s leading private equity firms specializing in financial services, has completed three platform acquisitions as part of its buy and build strategy: Wealthtime, Amber Financial Investments (âAmber â) And Novia Financial (â Novia â), togetherâ Avalon âor theâ Combined Group â.
Of the three investments, AnaCap has now acquired nearly Â£ 11.0 billion from AuA and will continue to deploy its expertise in technology companies and operational commitment to strengthen the company’s organic expansion and identify business opportunities. ‘attractive targeted acquisitions.
Eric Verret, Head of Capital Markets at AnaCap, said: âThe ability to secure funding through HIG WhiteHorse has enabled us to actively pursue our UK wealth management strategy while providing the comfort of working with a knowledgeable, professional and sophisticated counterpart. We thank HIG for working with us on this transaction.
Keith Green, Director of HIG WhiteHorse, said: âWe are delighted to support AnaCap in its acquisitions and integration of leading wealth management platforms, with the Combined Group now ideally positioned for the opportunities to come. This transaction highlights HIG’s ability to support an attractive early stage buy and build strategy in a fragmented market. We look forward to providing additional financial support as the combined group moves into its next phase of growth. ”
About HIG Capital
HIG is a leading global alternative asset investment firm with $ 45 billion in equity under management. * Based in Miami and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States, as well as as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, BogotÃ¡, Rio de Janeiro and SÃ£o Paulo, HIG specializes in providing debt and equity capital to small and medium-sized enterprises, using an added approach:
HIG’s equity funds invest in management buyouts, recapitalizations and company exclusions of profitable and underperforming manufacturing and service companies.
HIG Debt Funds invest in senior, unitranche and junior debt financing to companies of all sizes, both on a primary basis (direct origination) as well as in secondary markets. HIG is also a primary manager of CLO, through its WhiteHorse family of vehicles, and operates a publicly traded BDC, WhiteHorse Finance.
HIG’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
HIG Infrastructure focuses on making value-added and core plus investments in the infrastructure sector.
Since its inception in 1993, HIG has invested and managed more than 300 companies around the world. The company’s current portfolio includes more than 100 companies with combined sales of over $ 30 billion. For more information, please visit the HIG website at www.higcapital.com.
* Based on total capital commitments managed by HIG Capital and its subsidiaries.