Orion Energy Partners held a final close for its Orion Energy Credit Opportunities Fund II at $816 million, surpassing its original $750 million target.
Over 50 percent of the capital commitments to the fund are from the US investors; approximately 20 percent from Europe and the remainder from Australia. The New York State Teachers’ Retirement System is one of the investors in the fund.
The firm kicked off deployment for Fund II in early 2016 by investing in several energy deals. The firm will focus investing the remaining capital from the fund in credit deals in international middle-market energy companies.