We are advising ORIX Corporation USA on the transaction

Davis Polk is advising ORIX Corporation USA (ORIX USA) on its acquisition of majority equity ownership of Hilco Global. The transaction is expected to close in the third quarter of 2025, following the satisfaction of customary closing conditions and the receipt of required regulatory approvals. Financial terms of the transaction were not disclosed.

ORIX USA is an investment and asset management firm with a specialization in private credit, real estate and private equity solutions for middle-market focused borrowers and investors. ORIX USA and its subsidiaries have approximately 1,300 employees across the United States and had $89.8 billion in assets, which includes $39.6 billion in assets and commitments, in addition to $50.2 billion in servicing and administering assets, as of March 2025. ORIX USA was established in 1981 as a subsidiary of ORIX Corporation, a publicly owned international financial services firm based in Tokyo, Japan.

Hilco Global is a privately held, diversified financial services company focused on maximizing the value of assets for both healthy and distressed companies. Hilco Global operates as a holding company composed of over 20 specialized business units that work to help companies understand the value of their assets and, as needed, monetize that value. Hilco Global is based in Northbrook, Illinois, and has 800 professionals operating on five continents.

The Davis Polk corporate team includes partner Michael Davis and counsel Heather Weigel. Partner William A. Curran is providing tax advice. Partner Matthew J. Bacal is providing intellectual property advice. Partner Adam Kaminsky is providing executive compensation advice. Partner Gregory S. Rowland is providing investment management advice. Partner Zachary J. Zweihorn is providing broker-dealer advice. Partner Paul D. Marquardt is providing regulatory advice. Partner Robert F. Smith is providing sponsor finance advice. Partner Jesse Solomon is providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices. 

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