Japanese consumer finance company Orix and MVC Corporation, a wholly-owned investment company of Mitsui, have agreed to take an equity stake in Income Partners Asset Management, a Hong Kong-based fixed income asset management company that specializes in Asian debt investments.
Orix, through its subsidiary, will invest up to 20%, while MVC will invest 5% in Income Partners, which declined to disclose the value of the transactions.
Orix has also set aside $30 million for seeding new funds in Income Partners. The first one under the new shareholding structure will be a new closed-end fund that will use a variety of credit strategies and aims to generate returns in the 15-20% range...
