Orion Energy Partners (Orion) is attempting to raise $750 million for its second fund targeting debt opportunities in the energy market.
The New York-based firm is seeking the capital for its Orion Energy Credit Opportunities Fund II, according to a US Securities and Exchange (SEC) filing published on 29 March.
So far, no investors have committed to the fund, according to the SEC filing. Asante Capital Group Advisors is working with Orion on raising capital for the fund, the SEC filing revealed. Both Orion and Asante declined to comment on the fundraising.
The Orion team previously managed an energy focused-debt fund at Energy Capital Partners which closed on $800 million in 2013.
Managing director Nazar Massouh is the key man in the Orion fund, having left Energy Capital Partners to co-found the firm last year. Before his time at Energy Capital, Massouh spent seven years at Goldman Sachs, putting in place fixed income and financing solutions for energy companies, according to his profile on Orion’s website.
Orion is a credit-focused private equity firm that focuses on providing debt in North American middle-market energy companies. The firm’s team has invested $12 billion in energy infrastructure and service companies in roles before joining Orion, according to its website, and the firm targets deals between $50 million and $150 million.