Chicago, June 24, 2024–(BUSINESS WIRE)–NXT Capital, a subsidiary of ORIX USA, today announced it has entered into a strategic investment partnership with Cresset Partners (“Cresset”). Cresset is the private investment arm of Cresset Capital, a $50 billion asset management and multi-family office platform. The bespoke program will provide individuals and family offices on the Cresset platform access to direct private lower middle market investment opportunities.
The program will focus on direct lending transactions in the lower middle market. Cresset’s Private Credit Fund (CPCF) will provide capital to a portfolio consisting of diversified direct investments in floating rate senior secured loans to lower middle market companies.
“This program highlights the continued growth of our asset management platform and the benefits of being able to leverage our strong balance sheet. We are pleased to partner with Cresset, a leading asset management advisory firm, who selected us to enhance their credit portfolio by providing them access to differentiated opportunities in the lower middle market,” said Ted Denniston, co-head of NXT Capital. “The middle market lending market has grown rapidly over the past few years, leading sophisticated RIAs like Cresset to increasingly focus on areas of opportunity within the asset class. We look forward to this partnership with Cresset and bringing our expertise and solutions to this investor base.”
“As investment opportunities in private credit become more diverse and investor interest continues to grow, we continue to seek experienced, specialized managers to strengthen and expand our private credit funds, and we welcome the opportunity to partner with NXT Capital on this program,” said Kevin O’Donnell, executive managing director and head of Cresset’s private funds group.
“The NXT Capital team was very responsive and quickly established our new partnership. We look forward to expanding this partnership with NXT’s long-standing track record and middle market lending expertise to provide our client base with further access to private credit,” said Bradley Schneider, Managing Director and Head of Private Credit at Cresset.
NXT Capital provides structured lending solutions through its Direct Lending Group, targeting U.S.-based borrowers with EBITDA between $5 million and $50 million. Since NXT Capital’s founding in 2010, the Direct Lending team has closed more than $28.5 billion in loan commitments across more than 500 platform transactions. NXT Capital is headquartered in Chicago with offices in Atlanta, Dallas and New York and is a wholly owned subsidiary of ORIX USA.
Founded in the United States in 1981, ORIX USA specializes in private credit, real estate and private equity solutions for borrowers and investors focused on middle market companies, combining a strong balance sheet with capital from third-party investors. ORIX USA and its subsidiaries have approximately 1,300 employees across the United States and $85 billion in assets as of March 2024, of which $26.8 billion is under management, $48.6 billion is serviced and administered assets and approximately $9.2 billion is in its own assets.
Cresset is an independent, award-winning multi-family office and private investment firm with more than $45 billion in assets under management (as of April 1, 2024). Cresset serves the unique needs of entrepreneurs, CEO-founders, high-net-worth individuals, executives, and high-net-worth and multigenerational families. Through Cresset Asset Management LLC, Cresset offers clients access to comprehensive family office services, highly personalized asset management, investment advisory, planning, and other services. Cresset’s private investment group, Cresset Partners LLC, offers clients direct access to real estate, private equity, private credit, and other investment opportunities.
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contact address
Megan O’Brien
312-450-8087
MeganO’Brien@orix.com
