PitchBook: NXT Capital enters strategic partnership with Cresset Capital

NXT Capital, a subsidiary of ORIX USA, today announced a strategic partnership with Cresset Partners focused on direct lending deals in the lower middle market.

Cresset’s Private Credit Fund (CPFC) will provide capital for the portfolio, which will comprise diversified direct investments in floating rate, senior secured loans to lower middle market companies, according to a June 24 company statement.

The program will provide access to direct private lower middle market investment opportunities for individuals and family offices on Cresset’s platform, and offers a solution to the growing appetite for access to private credit from RIA clients, according to the companies.

NXT Capital provides structured financing solutions through its direct lending group and targets US-based borrowers with EBITDA between $5 million and $50 million.

Cresset is a multi-family office and private investment firm with more than $45 billion in assets under management.

This article was originally published by Pitchbook.