ORIX USA Group Launches IX Capital Partners in US
Mar 22, 2016
TOKYO, Japan - March 22, 2016 - ORIX Corporation ("ORIX"), a leading integrated financial services group, today announced the formation of IX Capital Partners PE, LLC ("IX Capital Partners"), a new investment initiative of ORIX USA's majority-owned subsidiary, Mariner Investment Group LLC ("Mariner"). IX Capital Partners - Private Equity is seeking to invest in equity capital in a variety of industries and special situations in North America. Its target equity size per deal is $100 million with a range of $50 million to $150 million. This new team is based in Mariner's New York City office, with an office also in Dallas.
Together with ORIX USA's corporate lending and financing capabilities, IX Capital Partners will provide its investors (including ORIX USA) with seamless opportunities to make investments, providing a comprehensive one-stop solution to middle-market companies.
IX Capital Partners represents the most recent business collaboration between ORIX USA and Mariner, and facilitates the opportunity for clients to co-invest alongside ORIX USA capital. As a registered investment adviser, Mariner has the investment and management infrastructure, as well as the regulatory compliance and operational capabilities, to support IX Capital Partners' needs, while IX Capital Partners - Private Equity adds private equity expertise to Mariner's broad investment product offerings.
Partnering with New York private equity sponsor Aperion Management and the investee entity's management team, IX Capital Partners recently sponsored its first private equity investment-the acquisition of Chicago-based RoadSafe Traffic Systems, the largest and only national provider of pavement marking, sign installation and traffic control services and equipment to the roadway construction, and railroad and utility industries in the United States. RoadSafe operates from 31 branch and satellite locations, enabling it to serve projects of any size in over 40 states.
The management team at RoadSafe-including CEO and President David Meirick and Chief Financial Officer Brendan Kissane-will continue leading the 1,000-plus employee company. Over the years, RoadSafe has grown into a nationwide provider with the capability to take on large-scale mandates and execute multistate projects across the country, while still maintaining a focus on safety.
The acquisition of RoadSafe comes at an opportune time, just after the Fixing America's Surface Transportation (FAST) Act was signed into law in December 2015. FAST provides long-term funding certainty for essential transportation projects like new highways and rail transit lines, and has resulted in railroad and utility companies increasingly outsourcing their traffic control requirements to trusted providers.
The ORIX Group will continue to expand its businesses by leveraging the Group's expertise in the asset management through investment opportunities in the US.
Corporate Planning Department
ORIX USA Corporation
ORIX USA provides innovative capital solutions that clients need to propel their business to the next level. Based in Dallas, ORIX USA has a team of more than 500 employees spanning nearly 20 offices across the U.S. and Brazil. ORIX USA and its family of companies offer investment capital and asset management services to clients in the corporate, real estate, municipal and energy sectors, while holding $6 billion of assets and managing an additional $29 billion, approximately. Its parent company, ORIX Corporation, is a Tokyo-based, publicly owned international financial services company with operations in 36 countries and regions worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX USA, visit www.orix.com.
Mariner Investment Group, LLC
Mariner Investment Group is an SEC-registered investment adviser that manages several direct and affiliated single and multi-strategy hedge funds, funds of funds and other alternative investments services. Founded in 1992, Mariner and its associated advisers employ approximately 155 people in New York, London, Tokyo, Seoul, Philadelphia, Dallas, Harrison (NY), Rowayton (CT), and Summit (NJ). www.marinerinvestment.com.
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses. Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into the lending, investment, life insurance, banking, asset management, automobile-related, real estate and environment and energy-related businesses. Since its first overseas expansion into Hong Kong in 1971, ORIX has spread its business globally by establishing locations in a total of 36 countries and regions across the world. Moving forward, ORIX aims to contribute to society while continuing to capture new business opportunities. For more details, please visit our website: http://www.orix.co.jp/grp/en/
Caution Concerning Forward Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "4. Risk Factors" of the "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2014 - March 31, 2015."
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