Anyone here familiar with HIG Capital?

Does anyone here have thoughts on pre-MBA opportunities at Miami-based H.I.G. Capital? In particular, I was just wondering how transaction experience, quality of people, business school placement, and overall reputation of H.I.G. compare to private equity firms such as Audax Group, Riverside Company, and other mid-market firms of similar size.

As for what little I know about HIG, I'm aware of their reputation of being able to generate very significant IRR's and their strategy of targeting companies that are either underappreciated or would make for a good turnaround story. It also seems like they have a pretty sizable pre-MBA class, though I was also somewhat alarmed by the number of job postings I've seen from there on Doostang and other job boards. I'm not quite sure whether they're just rapidly expanding or if they have had trouble filling their pre-MBA positions, so any insights that you guys could provide would be much appreciated. Thanks a bunch guys.

Comments (37)

 
Nov 24, 2007 - 2:58pm

They recently opened a London office which I think contains several of the HIG Ventures companies. I'm not sure how much of the HIG Capital side came over from Miami, but I know they've made hires in London. I'm not sure if the Doostang stuff is related to that part of the expansion.

Met a few folks there, generally very bright, nice people. I met one of the office heads who is obviously smart, and also a great dude with a pretty interesting background. I'm not sure what b-school placement is like (on average, who cares? It's what you do that matters), but I'd probably happily go there based on what I've seen.

Depending on your situation, just call them up and see what you can learn.

 
Dec 2, 2007 - 1:32pm

H.I.G. is a value investor. As a result, they probably spend a significant portion of time reviewing deals that they never end up winning.

I certainly wouldn't say it is a bad firm though. I don't think it ranks it quite as high as an Audax, but the name is known in the middle market for sure.

CompBanker

  • 1
 
Dec 4, 2007 - 11:37am

HIG is a solid firm plus you get to work in Miami. Very operations focused and they love to hire ex-consultants as they are founded by consultants. Comp scale is on the bottom end however and they have a ton of analysts (you aren't called an associate here out of IB). That would worry me just a little. I have heard good things however.

 
Dec 26, 2010 - 4:36pm

Bumping this -- any thoughts on H.I.G. Capital, the private equity group, in Boston? CB, you may be able to chime in here. I know a little about them, but not much regarding the things one really cares about (comp, hours, role, etc.). Any thoughts would be much appreciated.

 
Dec 26, 2010 - 6:10pm

Sorry jim, I've got no details on their Boston office.

CompBanker

 
Dec 26, 2010 - 6:13pm

No worries, thanks for the reply. Appreciate it. Any thoughts on any of their other offices?

 
Dec 26, 2010 - 6:25pm

Yeah -- there have been other, more recent posts on HIG. Try to do a search and see if you can find it. My summary version is: One of my old analysts co-workers did a deal with the Florida HQ. It was an absolutely miserable experience. He was treated like shit and basically said the associate clients were working around the clock. Soooooooo --- goodluck =)

CompBanker

 
Dec 26, 2010 - 6:51pm

That's the rumor I've been hearing -- guy I spoke to that works in a different group at HIG said 70-80 per week. Just wanted confirmation, and I think this about gives it away. I'll take a pass on this one!

You're missing one heck of a snowstorm up here... weather is absolutely miserable.

 
Best Response
Dec 26, 2010 - 9:15pm

I had a superday with HIG's Boston office a few months ago. Guys are really cool, but I got the sense they don't respect their associates as much as they should. One example of this is their website; notice most other PE shops' websites that all include the names of the associates.

The guys I spoke to mentioned a number of times that their Miami office gets a bad rep and that the Boston office is a bit more "relaxed and entrepreneurial." I didn't get a sense for exactly how many hours per week they work, but Boston didn't seem like as much of a sweatshop compared to the Miami office.

Anything else I can help answer? Hope this helps.

 
Dec 26, 2010 - 9:47pm

BB, thanks for the response. What was the process like (i.e. how many interviews did you go through, how did it go, etc.)? What ended up happening?

Did they give you an idea for compensation? What group was your interview for (buyout/PE, growth equity, etc.)?

 
Dec 26, 2010 - 10:23pm

I had one phone interview followed by an in-office 2nd round. I'm pretty sure there was a final round in the Boston office, but I wasn't invited. The headhunter I worked with informed me that they wanted me to continue the process with their Miami office, but I declined.

Interviews in general were very case focused. Didn't really receive a single "technical" question. It was all conversational to see what I knew about PE valuation, how I'd go about determining value, etc..The only technical aspect of the 2nd round was a standard LBO exercise on the computer - this was pretty straight forward.

No idea on comp, although I hear it's somewhat below "street." This was for their buyout/PE group.

 
Dec 27, 2010 - 10:19am

BB, thanks a lot for your post -- this is quite informative. Maybe I shouldn't write them off QUITE yet...

 
Dec 27, 2010 - 10:18pm

I may be reiterating the consensus here, but I feel I should post as we see them in our space a fair amount. From an outsiders perspective I can only say it seems as though their young guys get slammed. The fund may be well respected for great returns, but as a potential candidate at the pre-mba level it may seem a bit like the continuation of banking in terms of hours. It seems like they look at absolutely everything that goes their way, which means plenty of legwork at the junior levels, even if they are not submitting IOI's and getting further along in the process, which as a banker, seems a lot like pitching to me - a week or so of all nighters with no real deal experience to speak of in the end.

 
Dec 28, 2010 - 2:57pm

hi guys, I actually went through their 1st round phone interview, went into their office to go through a case study / verbal financial modelling test, which then they invited to come in for a super day. unfortunately the date that they gave overlapped with something that i just couldn't rescheduled. i followed up with them this week and it looks like they will likely have another one in january. any one know what I can expect? this is with their boston office. I know on the email they sent me for the dtate that i couldn't make, it was literally an all day event followed by a happy hour with colleagues.

any information would be greatly appreciated. thanks

 
Nov 7, 2012 - 7:29pm

It should be noted that they have different interview structures for the different funds.
ie. Bayside vs. HIG Growth
I know the HIG Growth interview consists of a pretty simple modeling test, but throws in a few wrinkles such as PIK financing, which is supposed to throw off candidates.

Play the long game - give back, help out, mentor - just don't ever forget where you came from. #Bootstrapped
 
Nov 7, 2012 - 8:04pm

My friend used to work at HIG and was very jaded about his experience. Extremely low pay and long hours and even the deal experience wasn't that great (LP related work, doing administrative type work, etc.)

 
May 24, 2013 - 3:56pm

HIG Capital (Originally Posted: 04/07/2010)

Hi Guys,

Does anyone have a view on an internship at investment firm HIG Capital (specifically their distressed investing fund Bayside Capital)?

I don't know much about them except for what is written on the website. Specifically, I would like some information on reputation (tier 1, 2 etc..) and general culture.

Many thanks.

 
May 24, 2013 - 4:01pm

HIG Capital PE Recruiting (Originally Posted: 03/19/2013)

Does anyone know about the HIG PE recruiting process? A HIG recruiter reached out to me 2 weeks ago and asked me to fill out an internal application. I haven't heard from her since. Does it usually take a long time to schedule interviews?

Any advice or guidance on the recruiting process or the interview will be much appreciated.

 
May 24, 2013 - 4:04pm

Wangta:
Are you post MBA or pre? I had a recruiter email me as well and have a call lined up - I'm post MBA.

Would you mind giving a little more detail on your background? Are you currently working at a different PE shop post-MBA? Also, I assume you did your MBA at HBS or Wharton, any chance that is incorrect (assumption based on multiple anecdotal yet credible sources regarding HIG recruiting)?

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