HIG Capital has completed a succession process that puts three career insiders in charge of the $74 billion alternative asset manager, with Brian Schwartz moving from co-president to chief executive officer and Doug Berman stepping up to co-president alongside the incumbent Rick Rosen.
Co-founders Sami Mnaymneh and Tony Tamer, who built HIG Capital together starting in 1993, both shift to the executive chairman title and retain investment committee seats across all fund strategies. Mnaymneh had served as chief executive since the firm’s founding.
Schwartz’s tenure at the firm is unusually long even by private equity standards. He arrived in 1994 — one year after the founders — and rose through roles spanning investment oversight, fund management, and firmwide operations before becoming co-president. For the past six years in that position, he held investment committee seats for every fund strategy HIG Capital runs: equity, credit, real estate, and infrastructure.
HIG Capital’s Multi-Strategy Platform at the Time of Transition
The firm Schwartz now leads is considerably larger and more complex than the one he joined. HIG Capital runs strategies across middle-market buyout equity, direct lending through WhiteHorse Finance (its publicly traded business development company), real estate, infrastructure, and special situations credit. Capital under management stands at $74 billion, the portfolio holds more than 100 active companies generating combined revenues above $53 billion, and the firm has completed more than 3,500 transactions since inception.
Mnaymneh pointed to that scale as part of the rationale for the change. “The firm has reached a scale and depth of leadership where this transition is both natural and strategically important,” he said. “Brian has been instrumental to our success and a key driver of the firm’s growth. I look forward to working with him as the firm builds on its strong foundation.”
Berman’s promotion rounds out what amounts to a full refresh of the executive layer. He has spent nearly 30 years at HIG Capital, most recently running its U.S. private equity franchise, and sits on the executive committee. He will now work alongside Rosen on firmwide investment and operational priorities.
Succession Structure Keeps Founders Close to Capital Decisions
Few details of the new structure suggest a clean break from the founding era. Mnaymneh and Tamer retain investment committee membership — which at most private equity firms is where real authority over deployment decisions sits. Day-to-day management passes to Schwartz, but the founders keep direct influence over which deals get done.
“I am deeply grateful to Sami and Tony for building a firm defined by disciplined investing, operational focus, and a strong culture,” Schwartz said. “With our differentiated platform and experienced team, we are well positioned to capitalize on opportunities and continue delivering strong outcomes for our investors.”
Berman framed his own mandate in concrete terms: “My priority is to ensure we stay disciplined in how we invest, stay close to our portfolio companies, and continue to execute at a high level across the firm. I look forward to partnering with Brian and Rick as we continue to execute on the opportunities we see in our markets.”
HIG Capital is headquartered in Miami and holds offices across the U.S. and in affiliate locations throughout Europe, Latin America, the Middle East, and Asia.
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HIG Capital Executes Founder Succession With Internal Promotions Across the Top
