ORIX adds private credit to asset management with purchase of NXT

ORIX USA’s current business overseeing third-party capital currently consists of a hedge fund and private equity firm.

The US arm of Japanese financial conglomerate ORIX Corporation is set to acquire NXT Capital, the firms announced late Sunday.

ORIX USA will buy the Chicago-based mid-market lender, which is currently a portfolio company of Stone Point Capital, in a transaction expected to close in August. The current management team, led by chief executive Robert Radway, would remain in place.

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