Market Overview

H.I.G. Capital Completes Acquisition of Buck

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H.I.G. Capital ("H.I.G."), a leading global private equity investment
firm with over $25 billion of equity capital under management, is
pleased to announce that one of its investment funds has completed the
carveout acquisition of certain assets comprising the Buck business
("Buck" or the "Company"), from Conduent, Inc. The transaction creates a
premier, independent benefits consulting and administration organization
with a global footprint.

Buck, initially founded in 1916 as an actuarial consulting firm, today
offers a diverse portfolio of retirement and health benefits advisory,
analytics, administration, and employee communication solutions powered
by industry-leading technology. Buck's clients include large global
corporations, mid-market and regional companies, and governmental
agencies throughout North America and Europe.

"As an independent entity operating under the relaunched Buck brand, we
are well positioned to grow across all aspects of our business. With
global scale and best-in-class technology, combined with our deep bench
of experienced and passionate professionals, we are proud to continue
serving as a trusted partner to our clients. Buck is uniquely positioned
amongst its competitors as a nimble, agile and client-centric provider
for customized solutions to drive positive health, wealth and career
outcomes for employees and retirees," said Jack Freker, Chief Executive
Officer at Buck. "We are eager to embark on this new chapter of
accelerated growth and investment in our organization, employees,
technology and capabilities."

"Buck is an excellent platform within the integrated HR consulting and
services space. We've invested in an exciting organization with a full
suite of services, differentiated technology, thought leadership, an
exceptionally talented group of employees and unparalleled client
tenure," said Matt Lozow, Managing Director at H.I.G. "We look forward
to further helping Buck scale its existing services and build new
solutions for a dynamic marketplace."

About Buck

Buck is an integrated HR consulting, benefits administration and
technology services provider. Based in New York, with global operations,
Buck is focused on helping its clients realize the best organizational
performance for their business while driving positive health, wealth and
career outcomes for their employees. For additional information, visit www.buckglobal.com.

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets
investment firm with over $25 billion of equity capital under
management.* Based in Miami, and with offices in New York, Boston,
Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as
well as international affiliate offices in London, Hamburg, Madrid,
Milan, Paris, Bogotá, Mexico City, Rio de Janeiro and São Paulo, H.I.G.
specializes in providing both debt and equity capital to small and
mid-sized companies, utilizing a flexible and operationally focused /
value-added approach:

1. H.I.G.'s equity funds invest in management buyouts, recapitalizations
and corporate carve-outs of both profitable as well as underperforming
manufacturing and service businesses.

2. H.I.G.'s debt funds invest in senior, unitranche and junior debt
financing to companies across the size spectrum, both on a primary
(direct origination) basis, as well as in the secondary markets. H.I.G.
is also a leading CLO manager, through its WhiteHorse family of
vehicles, and manages a publicly traded BDC, WhiteHorse Finance.

3. H.I.G.'s real estate funds invest in value-added properties, which
can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than
300 companies worldwide. The firm's current portfolio includes more than
100 companies with combined sales in excess of $30 billion. For more
information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and
affiliates.

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