About Steven Carter HIG Cronus
H.I.G. Capital, run by Sami Mnaymneh and Tony Tamer, created H.I.G. Cronus Capital as its new real estate arm in 2005. The two partners hired Philip Tager and Steven Carter as Executive Managing Directors of H.I.G., in order to help grow their new real estate business. Mr. Carter, who joined the H.I.G. affiliate after nine years of real estate investment experience, was instrumental in raising the group’s first fund, which had its final closing in 2007 with a total of $200 million. Steven Carter focused his efforts on identifying compelling turnaround opportunities with equity investments of between $5 million and $15 million.
Although open to all real estate categories, Steven Carter focused on building out the firm’s portfolios in Dallas and Houston, TX and in Miami, FL. In these locations, he primarily invested in hotels, office buildings, and multi-family properties. H.I.G. Cronus leveraged the initial $200-million fund into approximately $400 million of real estate assets. Totaling over 50 individual properties, the majority of the acquisitions were managed by a dedicated asset-management and property-management team.
Prior to joining H.I.G. Cronus, Steven Carter worked in the real estate private equity group for Credit Suisse First Boston---also known as DLJ Real Estate Capital Partners---as a Principal of the $2-billion fund group. In this role for five years, Mr. Carter initially joined Donaldson, Lufkin, & Jenrette before Credit Suisse acquired the company. He led investments in both assets and companies across multiple real estate categories, including condominium projects, assisted-living facilities, and hotels. He frequently served on the boards of the acquired companies, in order to manage the investments.
Prior to DLJ/CS, Mr. Carter gained valuable experience in the real estate industry as an Associate with both Lazard Freres & Co., LLC, and BlackRock, Inc. He entered the field after graduating cum laude from Princeton University with a Bachelor of Arts in Political Science, with minors in Near Eastern Studies and Economics. All his professional experience has been in New York City, where he currently resides.
Although open to all real estate categories, Steven Carter focused on building out the firm’s portfolios in Dallas and Houston, TX and in Miami, FL. In these locations, he primarily invested in hotels, office buildings, and multi-family properties. H.I.G. Cronus leveraged the initial $200-million fund into approximately $400 million of real estate assets. Totaling over 50 individual properties, the majority of the acquisitions were managed by a dedicated asset-management and property-management team.
Prior to joining H.I.G. Cronus, Steven Carter worked in the real estate private equity group for Credit Suisse First Boston---also known as DLJ Real Estate Capital Partners---as a Principal of the $2-billion fund group. In this role for five years, Mr. Carter initially joined Donaldson, Lufkin, & Jenrette before Credit Suisse acquired the company. He led investments in both assets and companies across multiple real estate categories, including condominium projects, assisted-living facilities, and hotels. He frequently served on the boards of the acquired companies, in order to manage the investments.
Prior to DLJ/CS, Mr. Carter gained valuable experience in the real estate industry as an Associate with both Lazard Freres & Co., LLC, and BlackRock, Inc. He entered the field after graduating cum laude from Princeton University with a Bachelor of Arts in Political Science, with minors in Near Eastern Studies and Economics. All his professional experience has been in New York City, where he currently resides.