HIG Capital Returns To Norway With Industrial Portfolio Acquisition

Alternative investment firm HIG Capital has re-entered the Norwegian industrial property market through the acquisition of four logistics and light-industrial assets, deploying capital into a supply-constrained market where limited development activity around Oslo continues to drive tenant demand for modernised warehouse space.

The portfolio spans approximately 25,000 square meters of built area across 110,000 square meters of land, featuring flexible building configurations that accommodate warm and covered storage alongside cross-dock capabilities. Direct motorway access positions the assets to serve distribution networks across the greater Oslo region, where new logistics development faces regulatory and land availability constraints.

HIG Capital, founded in 1993 by Sami Mnaymneh , executive chairman and CEO, and Tony Tamer, executive chairman, manages $70 billion across seven investment strategies. The firm’s real estate division focuses on value-added properties where operational improvements and capital investments can enhance returns through improved specifications, occupancy stabilisation, and development potential permitted under existing zoning regulations.

The Norwegian transaction extends HIG Capital’s industrial and office-showroom platform across Europe, which now exceeds €1 billion in stabilised value when combined with holdings in the United Kingdom, France, and Southern Europe. The firm previously held Norwegian industrial assets, including Kongsberg Technology Park and Raufoss Industripark, before exiting those positions.

Jérôme Fouillé, managing director at HIG Realty in Europe, characterised the acquisition as an opportunity to enter one of the continent’s most supply-constrained markets. Limited new logistics development around Oslo, coupled with increasing tenant requirements for modern, energy-efficient facilities, creates conditions the firm expects will support rental growth and value creation over time.

The Norwegian properties will undergo environmental, social, and governance enhancements, including preparations for rooftop solar installations, LED lighting conversions, and electric vehicle charging infrastructure for both passenger vehicles and heavy goods transport. These improvements align with tenant preferences for sustainable facilities and may provide differentiation in lease negotiations.

Logistics Concentration Across Core Markets

HIG Capital’s April acquisition of logistics properties in Paris and Lyon demonstrated similar targeting of last-mile distribution assets in supply-constrained urban markets. That transaction involved six properties totaling approximately 50,000 square meters in locations offering direct highway and airport access. Both the French and Norwegian portfolios focus on proximity to population centres where e-commerce growth and supply chain reconfiguration drive demand for modern warehouse space.

Riccardo Dallolio, managing director and head of HIG Realty in Europe, noted that the Norwegian acquisition represents an important milestone for the firm’s self-storage strategy in what the firm views as an operationally intensive and undersupplied sector across multiple European markets.

Beyond logistics, HIG Capital has pursued adjacent real estate opportunities where operational intensity and market fragmentation present consolidation possibilities. The firm established Boxengo, an Italian self-storage platform, in October after completing five acquisitions in Milan and Rome.

Two Milan facilities are scheduled to open before year-end, with three additional locations becoming operational throughout 2026. William Binella, who brings more than 25 years of self-storage experience, leads the platform as CEO.

Corporate Carve-Outs And Platform Building

The firm’s October acquisition of France Workwear from Rentokil Initial illustrates HIG Capital’s approach to corporate carve-outs in operationally complex businesses. The textile services provider operates 34 sites across France, delivering rental, laundry, and repair services for workwear, flat linen, and hygiene solutions to more than 21,000 customers through subscription contracts. The business will undergo rebranding in early 2026 while maintaining its focus on personal protective equipment, cleanroom services, and traceability systems.

Fabrice Shoshany, CEO of France Workwear, emphasised plans to strengthen the company’s leadership position in textile rental services while expanding innovation and sustainability initiatives across and beyond France.

HIG Capital operates through offices across North America, Europe, Latin America, the Middle East, and Asia, with European affiliate locations in Hamburg, London, Luxembourg, Madrid, Milan, and Paris. Since its founding, the firm has invested in more than 400 companies worldwide, with a current portfolio exceeding 100 companies that generate combined annual sales of more than $53 billion.

Recent activity includes closing the $5.9 billion WhiteHorse Middle Market Lending Fund IV and launching a GP Solutions Platform focused on secondaries transactions. The firm continues to execute acquisitions and corporate carve-outs across technology, healthcare, and business services sectors while building scaled real estate platforms in markets characterised by supply constraints and fragmentation.

The Norwegian logistics portfolio represents another step in HIG Capital’s methodical expansion across European industrial property markets, where the firm sees opportunities to apply operational expertise and capital investment to properties positioned in locations with structural supply limitations and growing tenant demand for modern facilities equipped with sustainable infrastructure.

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Based on reporting by techround.co.uk.