Orix to Acquire 71.4% of Hilco Global for USD 776m
ORIX Corporation announced in the May 12, 2025 press release “ORIX Signs Letter of Intent to Acquire Majority Interest (Consolidation) in Hilco Global” that its group company in the U.S., ORIX Corporation USA (OCU), has decided to enter into a nonbinding Letter of Intent with Hilco Trading, a U.S. based global financial services firm, to acquire a majority stake in Hilco Global.
OCU has now decided and entered into a Purchase Agreement with Hilco Global to acquire an approximately 71.4% ownership of Hilco Global. ORIX plans to complete the Acquisition by the end of September 2025, subject to receipt of regulatory approvals, and satisfaction of customary closing conditions.
Hilco Global is a privately held diversified financial services company and the world’s preeminent authority on maximizing the value of assets. Hilco Global delivers customized solutions to undervalued, high-potential companies to resolve complex situations and enhance long-term enterprise value. The firm delivers a unique blend of restructuring and principal investing (both equity and credit) solutions across the retail, commercial industrial, real estate, manufacturing, brand, and intellectual property sectors. For 38 years, Hilco Global has operated as a holding company for more than twenty specialized business units that act as an advisor, agent, or principal in diverse transactions. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has more than 770 professionals operating on five continents.
Background and Objectives of the Acquisition
OCU focuses on three alternative asset classes, namely, private credit, real estate and private equity. It pursues a hybrid strategy where earnings growth is derived from a combination of utilization of its robust balance sheet and funds from third-party investors. In a strategic and meaningful shift towards an asset management model, it continues to grow its assets under management and fee generation businesses. As of March 2025, OCU has USD 89.8 billion in assets, which includes USD 50.2 billion in servicing and administering assets, in addition to USD 39.6 billion in funded assets and unfunded commitments across proprietary capital, third party capital and strategic partners investing in OCU’s businesses.
The acquisition will allow OCU to develop asset-based loan origination capabilities and expand its asset management business. According to Orix's due diligence, the market for total asset-based loan origination grew from USD 400 billion in 2018 to USD 550 billion in 2025 in the US, and Orix expects it to grow in mid-single digits annually going forward. By fortifying its asset-based loan origination capacities, OCU will seek to capitalize on this market growth opportunity and expand its asset-based loan contracts through a use of third-party assets, further leading to an enhancement of its asset management business.
Also, for Hilco Global, it will have access to OCU’s robust sources of capital, allowing it to offer a potentially wide range of capital solutions to advisory clients and potential borrowers.
Norbert Gehrke
