Real Estate Private Equity Florida: Top Firms in 2026

Key Facts: Florida's Private Equity Landscape

• Florida is home to more than 80 private equity and real estate PE firms, with fund sizes ranging from $20 million to over $2 billion.
• H.I.G. Capital, headquartered in Miami, is the state's largest PE firm with $37 billion in equity capital under management and a portfolio of 100-plus active companies.
• Tampa leads in firm count with 11 PE investors, followed closely by Miami with 10 and Boca Raton with 9.
• South Florida, combining Miami, Boca Raton, and West Palm Beach, accounts for the majority of total assets under management in the state.
• Florida attracts more than 1,000 new residents per day, creating the structural housing undersupply that drives real estate PE deal flow.
• The dominant strategy across Florida PE firms is lower middle market buyouts targeting earnings before interest, taxes, depreciation, and amortization (EBITDA) of $2 million to $50 million.

Real Estate Private Equity in Florida: Market Overview

Florida real estate private equity firms deploy capital across a wider range of strategies than most Sun Belt markets. Active investors here allocate to residential equity, real estate debt, development, value-add repositioning, distressed non-performing loans, and Opportunity Zone investments. Fund sizes run from $20 million micro-cap vehicles to multi-billion dollar institutional platforms, reflecting a market that accommodates both emerging managers and global fund managers.

Three structural advantages make Florida persistently attractive to PE real estate investors. The state imposes no income tax on individuals or businesses, reducing friction for both limited partners (LPs) and general partners (GPs) who relocate capital here. Population migration exceeding 1,000 new residents per day sustains demand for multifamily, build-to-rent, and workforce housing. Florida's business-friendly regulatory environment also accelerates transaction timelines compared to high-regulation markets.

The Florida private equity landscape divides into two distinct but overlapping pools. South Florida, anchored by Miami, Boca Raton, and West Palm Beach, concentrates the largest buyout and multi-strategy investors, including H.I.G. Capital, Trivest Partners, and Comvest Partners. Tampa serves as the state's lower middle market hub, with 11 groups specializing in services, manufacturing, and specialty distribution buyouts.

Firm Comparison at a Glance

The table below covers the leading Florida-based PE and real estate PE firms by strategy, sector focus, and assets under management (AUM). Groups are sorted by disclosed AUM where available.

South Florida fund managers hold the majority of disclosed AUM, while Tampa-area investors compensate with higher deal velocity in the lower middle market.

Top Picks by Investment Strategy

Largest AUM: H.I.G. Capital manages $37 billion in equity capital, making it Florida's dominant multi-strategy platform with active positions in buyouts, distressed debt, real estate, and credit across 100-plus portfolio companies.

Strongest Founder-Owned Business Investor: Trivest Partners has completed 300-plus transactions totaling $6 billion, with an explicit mandate to partner with founder- and family-owned businesses using both control and non-control structures.

Best for Aerospace and Defense: AE Industrial Partners closed two funds totaling more than $2 billion and executed 48 acquisitions, including 31 add-ons, making it the only Florida-based specialist in aerospace and power generation platform builds.

Top Mid-Market Debt and Equity Platform: Comvest Partners offers the rare combination of equity and debt capital from a single West Palm Beach platform, drawing on $5.1 billion invested since 2000 across $3.6 billion in current AUM.

Most Active Tampa-Area Firm: KLH Capital leads Tampa private equity in deal velocity with 33 closed transactions via deal platforms, focusing on specialty services, niche manufacturing, and value-added distribution.

Top Florida PE Firms in Detail

H.I.G. Capital

Florida's largest private equity firm by any measure, H.I.G. Capital manages $37 billion in equity capital from its Miami headquarters, with some sources citing a broader figure of $59 billion when affiliates are included. Offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, and São Paulo place it among the few genuinely global platforms based in the state. H.I.G. invests across the full strategy spectrum, including middle-market leveraged buyouts, growth equity, distressed investments, real estate, and credit, giving institutional LPs diversified exposure through a single GP relationship. Its current portfolio of more than 100 companies carries combined revenues exceeding $30 billion. The firm's 300-plus investments since its 1993 founding represent the deepest transaction history among Florida-domiciled buyout groups.

Trivest Partners

With $6.1 billion in AUM and 300-plus completed transactions totaling over $6 billion in value, Trivest Partners holds one of the longest track records of any Florida PE firm, active since 1981. Its investment thesis centers on one specific seller profile: founders and families ready for a structured transition, whether a full buyout or a partial recapitalization that keeps them in the business. Sectors covered include consumer and retail, healthcare, niche manufacturing, technology, business services, and value-added distribution. Trivest's willingness to offer non-control structures alongside traditional majority buyouts makes it one of the most flexible options for owners who want institutional capital without surrendering full operational authority. Its Coral Gables location places it at the center of South Florida's PE network.

AE Industrial Partners

Boca Raton-based AE Industrial Partners built its reputation by going deep into sectors most PE investors avoid: aerospace, defense, government services, power generation, and specialty industrial. The firm closed two funds totaling more than $2 billion in committed capital and completed 48 acquisitions, of which 17 were initial platform investments and 31 were add-ons. That ratio reflects a deliberate consolidation playbook: acquire a market-leading platform company, then accelerate growth through targeted add-ons that expand either product capability or geographic reach. Business owners in aerospace manufacturing or defense services who engage AE Industrial gain access to sector relationships that generalist buyout groups simply cannot replicate. The firm's growth-oriented buyout approach distinguishes it from pure financial engineering models.

Comvest Partners

Few Florida PE firms can offer both equity partnership and debt financing from a single institutional platform, but Comvest Partners, based in West Palm Beach, has built exactly that capability. With $3.6 billion in assets under management drawn from $5.1 billion invested since 2000, Comvest occupies the middle market where deal complexity often requires flexible capital structures blending equity and debt. Mid-market business owners who might otherwise approach separate equity sponsors and lenders can engage Comvest as a single capital partner, simplifying negotiations and accelerating deal timelines. The firm's dual-strategy structure also benefits LPs seeking exposure to both equity returns and credit income within a single GP relationship.

Hidden Harbor Capital Partners

Hidden Harbor Capital Partners built its $1.9 billion AUM platform around a specific conviction: exceptional businesses are built on exceptional management teams, not financial engineering alone. The Boca Raton firm targets lower middle market companies with up to $500 million in revenue and EBITDA up to $50 million, a range that provides access to a broad universe of acquisition candidates. Its 17 closed transactions include Coast to Coast Logistics in January 2025 and Quaker Valley Foods in late 2024, both reflecting a preference for businesses with clear operational improvement potential. Business owners with $5 million to $50 million in EBITDA who want a PE partner actively engaged in building leadership capacity will find Hidden Harbor's management-first philosophy directly relevant to their transition needs.

KLH Capital

Among Tampa private equity investors, KLH Capital stands out for deal volume, having closed 33 transactions via deal sourcing platforms, a figure that exceeds most lower middle market peers in the state. Since its 2005 founding, KLH has concentrated exclusively on specialty services, value-added distribution, and niche manufacturing businesses, offering both majority and minority equity structures. Recent transactions include Thorpe Specialty Services in 2022, The Warehouse Rentals and Supplies in 2021, and Precision Impacts in 2021. Tampa Bay business owners in services and light industrial sectors who want a partner with demonstrated sector knowledge and genuine flexibility on control will find KLH a strong regional option.

Investment Trends and Capital Flows

Sun Belt Migration and Residential Real Estate PE

Florida's sustained population growth of more than 1,000 new residents per day has created a demand-supply imbalance in housing that persists across all major metros. This structural shortfall underpins active PE investment in multifamily, build-to-rent communities, and attainable housing strategies. Dedicated real estate fund managers targeting Florida residential assets have grown in number and scale as this demographic pressure compounds.

Founder-Owned Business Transitions and Lower Middle Market Buyouts

Florida's maturing founder generation is generating a wave of ownership transition opportunities as business owners who built companies over two to three decades approach exit readiness. Trivest Partners, Mangrove Equity Partners, and KLH Capital have all structured their investment mandates explicitly around partnering with these founders. Both majority buyout and recapitalization structures are being deployed to preserve founder legacy while introducing institutional capital and professional management.

Healthcare Services Consolidation

Healthcare services consolidation ranks among the most active deal categories in Florida PE, driven by an aging retiree population and a fragmented provider landscape. MBF Healthcare Partners completed four healthcare acquisitions in a single month in 2023, including Navarro Discount Pharmacy and CAC Florida Medical Centers. Boyne Capital and Trivest Partners also target healthcare as a core sector, with lower middle market companies under $20 million EBITDA representing the primary acquisition target.

Aerospace, Defense, and Industrial Platforms

Florida's network of military installations and aerospace manufacturing facilities supports a specialized PE category that most Sun Belt states cannot replicate. AE Industrial Partners capitalized on this ecosystem by deploying two $2 billion-plus funds entirely within aerospace, defense, power generation, and specialty industrial markets. Its 31 add-on acquisitions across 17 platform investments demonstrate how aggressively the buy-and-build strategy can execute when sector expertise drives sourcing.

Impact Investing and Attainable Housing

Florida's housing affordability crisis has produced a distinct impact PE category targeting non-concessionary returns alongside measurable community outcomes. Dedicated attainable housing platforms operating in the state show that residential-focused investment strategies need not sacrifice yield for social impact. This approach has drawn both institutional and accredited individual investors seeking income-oriented structures tied to housing demand fundamentals.

How to Evaluate PE Investors in This Market

EBITDA range alignment is the most immediate filter. Florida PE firms publish their target EBITDA thresholds with precision: Hidden Harbor Capital accepts up to $50 million, Lightview Capital and MKH Capital target $2 million to $15 million, and Keswick Partners focuses on $2 million to $5 million. Approaching a firm whose floor exceeds your earnings level wastes both parties' time.

Sector specialization matters more in Florida than in many markets because the state hosts genuine specialists, not just generalists claiming expertise. AE Industrial Partners will not allocate capital to a healthcare services business. MBF Healthcare Partners will not evaluate an aerospace manufacturer. Matching sector focus before initial outreach signals preparation and increases response rates.

The distinction between control and minority investment structures determines whether a founder retains operational authority post-transaction. Groups like Mangrove Equity Partners and KLH Capital explicitly offer minority structures alongside majority buyouts, giving sellers the option to partner rather than exit outright. Clarifying your ownership preference before engaging a firm prevents misaligned deal conversations.

Transaction volume is the most accessible proxy for experience. Sun Capital has invested in 375-plus companies, Trivest has completed 300-plus transactions totaling $6 billion, and H.I.G. has invested in 300-plus companies globally. For lower middle market groups without published AUM, checking closed deal history on deal sourcing platforms provides a more reliable signal than marketing materials alone.

Watch for red flags: firms with no documented transaction history despite active sourcing claims, fund sizes dramatically misaligned with their stated EBITDA targets, and investment criteria so broad they describe every business in existence. A $2 billion fund rarely dedicates meaningful attention to a $3 million EBITDA business.

Which Firm Fits Your Needs?

Founders planning a full or partial exit from a Florida-based business with EBITDA between $5 million and $50 million should begin with Trivest Partners, Mangrove Equity Partners, and KLH Capital. All three have built their investment theses around owner-operators and offer recapitalization structures that allow founders to retain equity while bringing in institutional resources. Trivest's 300-plus transaction history gives it unmatched pattern recognition for founder-to-institutional transitions.

Business owners in aerospace, defense, or specialty industrial markets should engage AE Industrial Partners before approaching any generalist buyout firm. Its sector-specific operating networks and 48-transaction track record in these industries represent a competitive advantage that no generalist group can replicate.

Mid-market companies needing both equity capital and debt financing should consider Comvest Partners, which delivers both from a single West Palm Beach platform. Healthcare business owners in the lower middle market should compare Boyne Capital, MBF Healthcare Partners, and Trivest directly: all three are active Florida healthcare consolidators, but they operate at different EBITDA thresholds and with distinct operational support models.

Methodology

This guide to Florida real estate private equity covers firms with headquarters or significant operating offices in the state. Firm selection draws on a curated list of 80-plus Florida PE investors, deal platform closed transaction data, and direct firm disclosures on investment criteria, AUM, and sector focus. AUM figures reflect publicly disclosed data and firm websites as of 2024 and 2025. Where AUM is undisclosed, we describe strategy and deal activity without fabricating figures. Deal counts reflect platform-reported transaction histories. Coverage spans a broad market across residential, commercial, and industrial strategies and is intended for founders, LPs, and advisors conducting market research rather than making final investment decisions.