- First close of third fund at US$205 million with top-tier global institutional investors from Canada, US, and Japan.
- Orion is a private credit asset manager based in Singapore focused on direct lending in Asia Pacific.
- OMERS (one of the top five pension plans in Canada) is an equity investor in Orion.
SINGAPORE – 9 October 2023 – Orion Credit Capital Asia Pte. Ltd. (“Orion Capital Asia”), a Singapore based private credit investment manager focused on direct lending in Asia Pacific, has reached the first close of its Fund III with up to US$205 million of subscriptions. The new fund has already started deploying capital.
Orion Capital Asia works with both private equity sponsors and local entrepreneurs by providing medium term secured loans to middle market businesses that have been underserved by traditional banking channels. The investments are across diverse industry sectors, are used for growth capital, acquisition financing, and other corporate initiatives, and in many cases involve bespoke financing solutions spanning multiple jurisdictions.
Orion Capital Asia has demonstrated a strong investment track record built on direct origination, robust structuring, and prudent underwriting. Orion Capital Asia has invested more than US$400 million from each of its first two funds, and in aggregate has invested more than US$1.5 billion including co-lenders, offering investors access to stable income generating private credit opportunities in Asia Pacific. Orion Capital Asia does not invest in distressed assets.
OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario in Canada, made an equity investment into Orion Capital Asia in 2020.
The ten-year old platform was selected “Best of the Best Midcap Private Debt House” by South Korea’s pension funds and other major institutional investors in the “Best Asset Managers by Korean Investors 2020” awards by The Korea Economic Daily.
“We are very excited to have the first close of our third fund with top-tier global institutional investors,” said Nitish Agarwal, CEO and CIO of Orion Capital Asia. “The success of this fund raising is a strong validation of our investment strategy and investment track record, and positions Orion well to capture the opportunity set in middle market direct lending in Asia Pacific that has become even more attractive in current market conditions.”
“OMERS is delighted to be an investment partner in Orion Capital Asia. Our capital commitments to Orion have grown substantially since we made the equity investment into Orion three years ago,” said Ani Deshmukh, Managing Director, OMERS Global Credit. “Asia is a growth region for OMERS, and we look forward to working alongside Orion Capital Asia to participate in the growth of mid-market credit in the region.”
OMERS Global Credit seeks to deliver long-term and sustainable returns by investing across public and private credit strategies including liquid securities and structured investments, both directly and alongside best-in-class asset managers and direct lenders. It provides long-term, strategic and/or opportunistic capital to companies and partners in order to generate attractive risk-adjusted, stable cash returns for OMERS. OMERS is a jointly sponsored, defined benefit pension plan, with 1,000 participating employers ranging from large cities to local agencies, and over half a million active, deferred and retired members. Our members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers, and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure and real estate.
Orion Capital Asia
Orion Capital Asia is a ten-year old Singapore based private credit investment manager focused on direct lending opportunities in Asia Pacific to middle market businesses that are owned by both private equity sponsors and local entrepreneurs. It seeks to be a reliable source of capital that is tailored to the borrower’s needs and is value accretive, while achieving superior risk reward for investors through robust execution of the investment strategy. The medium-term loans finance organic growth, acquisitions, and other corporate initiatives where the businesses have been under-served by traditional banking channels. The loans are secured, across diverse industry sectors, and in many cases involve bespoke financing solutions to meet the borrowers’ requirements spanning multiple jurisdictions. It does not invest in distressed assets.