ORIX USA acquires majority stake in Hilco Global
Torys acted as Canadian counsel for ORIX USA with a team that included John Emanoilidis, Justin Crawford and Mitchell Hayes (corporate/M&A), Tom Stevenson and Parker Baglole (employment), Michael Fortier (environmental), Ed Fan and Jacquelyn Smalley (IP), Mavra Choudhry (privacy) and Jerald Wortsman (tax).
On September 2, 2025, ORIX Corporation USA (“ORIX USA”) and Hilco Global (“Hilco”) announced the completion of ORIX USA’s acquisition of a majority equity ownership of Hilco Global.
With completion of the transaction, Hilco Global will operate as a subsidiary of ORIX USA. Jeffrey B. Hecktman, Executive Chairman, Chief Executive Officer, and Founder of Hilco Global, will continue to lead Hilco Global as Chief Executive Officer, and Hilco Global’s executive leadership and partner base will retain a minority equity ownership position going forward.
Together, both businesses have an enhanced ability to deliver diversified financial services capabilities and a broad range of investment capital solutions that create long-term value for their shared client base.
As part of the transaction, Hilco Global will simplify its operating structure into a parent company with two divisions, Professional Services and Capital Solutions, which will build upon the firm’s successful valuation, monetization, and advisory capabilities while expanding its services as an asset manager providing more robust private credit solutions and principal investing.
- Hilco Global Professional Services will expand the firm’s current suite of consultative practices, providing asset valuation expertise, building on Hilco Global’s reputation as one of the smartest asset appraisal firms in the world. This division will also expand the business’ strategic and operational advisory capabilities across restructuring and turnaround, real estate, performance solutions, capital transactions, intellectual property, litigation support, cyber security, geopolitical consulting, and more.
- Hilco Global Capital Solutions will expand Hilco Global’s asset management investing, particularly through asset-based private credit lending, which will benefit from ORIX USA’s capital and lending expertise and capabilities. Additionally, the Capital Solutions division will continue balance sheet investing and asset monetization across the retail, wholesale, commercial industrial, real estate, and intellectual property industries.
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Hilco Global is a privately held diversified financial services company and the world’s preeminent authority on maximizing the value of assets. It delivers customized solutions to undervalued, high-potential companies to resolve complex situations and enhance long-term enterprise value.
ORIX USA specializes in private credit, real estate, and private equity solutions for middle market focused borrowers and investors. It serves institutional investors globally through a broad, integrated asset management platform, combining a robust balance sheet with third-party investor funds for a strong alignment of interest.