Market Overview

ORIX Corporation USA Completes Acquisition of NXT Capital Inc.


Two companies join forces and grow their middle-market lending

ORIX Corporation USA (ORIX USA)
announced today that the acquisition of NXT
Capital Inc.
is complete, making NXT Capital a new subsidiary of
ORIX USA. The acquisition combines ORIX USA's financial strength with
NXT Capital's proven track record as a leading provider of structured
financing to the U.S. middle market.

This press release features multimedia. View the full release here:

"NXT Capital is now a strategic part of ORIX USA's asset management and
middle-market growth engine," said Hideto
, ORIX USA chairman, president and CEO. "We are fortunate
to add NXT Capital to our team, which will bolster our reputation as a
hybrid middle-market lender and asset manager."

Based in Chicago, NXT Capital will continue to operate out of its
current headquarters, while Robert
E. Radway
remains in his role of chairman and CEO. More than 115 NXT
Capital employees will join the 900 employees who are already part of
the ORIX USA Group and who span more than 30 offices across the U.S. and

"Our two companies complement each other very well," Radway said. "ORIX
brings further scale and financial strength to NXT Capital with its
larger portfolio of products, services and international presence. This
provides an enhanced platform for NXT Capital to achieve continued
growth and profitability."

ORIX USA has a long history of providing cash flow-based debt and equity
capital to middle-market companies through its Leveraged Finance
business unit, which underwrites growth financings, recapitalizations,
leveraged buyouts, acquisitions and more. Moving forward, the Leveraged
Finance team will be integrated with NXT Capital's Corporate Finance
unit, strengthening the company's overall middle-market financing

"We're excited to build upon our expertise with a seasoned partner like
NXT Capital," Nishitani said.

This acquisition is the latest in a series of transactions for ORIX USA,
which acquired Lancaster
in 2017, Boston
Financial Investment Management
in 2016 and RED
Capital Group
in 2010. The three companies fall under the ORIX
Commercial Mortgage Servicing umbrella. In 2016, ORIX USA acquired RB
, and in 2010, the company acquired Mariner
Investment Group

Advisors for ORIX USA on the NXT Capital transaction included Houlihan
Lokey Inc. as financial advisor and Davis Polk & Wardwell LLP as legal
advisor. For NXT Capital, J.P. Morgan Securities LLC served as exclusive
financial advisor and Kramer Levin Naftalis & Frankel LLP as legal

For more information, see

ORIX Corporation USA (ORIX USA)

Since 1981, ORIX USA has provided innovative capital solutions that
clients need to propel their business to the next level. ORIX USA and
its subsidiaries—Boston Financial Investment Management, Lancaster
Pollard, NXT Capital, Mariner Investment Group, RB Capital and RED
Capital Group—include a team of more than 1,000 employees spanning 30+
offices across the U.S. and Brazil. ORIX USA and its family of companies
have $63 billion of assets under management, administration and
servicing (including more than $10 billion held by the company and its
subsidiaries). Its parent company, ORIX Corporation, is a publicly owned
international financial services company with operations in 38 countries
and regions worldwide. ORIX Corporation is listed on the Tokyo Stock
Exchange (8591) and New York Stock Exchange (IX). For more information
on ORIX USA, visit

NXT Capital

NXT Capital is a leading provider of structured financing to the U.S.
middle market. Since its formation in 2010, the company has originated
approximately $20 billion in total financing volume spread over 600+
transactions. With approximately $12 billion of committed capital at its
disposal, NXT Capital provides a full range of structured financing
solutions on a direct basis through its Corporate Finance and Real
Estate Finance groups. NXT Capital also manages capital for third
parties through its asset management platform and offers investors
proprietary access to primarily first lien senior secured loans that are
not broadly traded or otherwise generally available without a loan
origination platform. Investment offerings include levered and unlevered
funds, separately managed accounts and CLOs. NXT Capital's investor base
includes public and private pension plans, insurance companies,
endowments, foundations and other institutional investors. NXT Capital
Investment Advisers, LLC, an affiliate of NXT Capital, is registered
with the SEC as an investment adviser. With more than 115 professionals,
NXT Capital is based in Chicago with offices in Atlanta, Dallas, Los
Angeles, Nashville, New York and Phoenix. For more information on NXT
Capital, visit

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
that 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 "1. Summary of
Consolidated Financial Results" of the "Consolidated Financial Results
April 1, 2017 – March 31, 2018."

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