October 9th, 2018

by Rodney Diola

Manager attracts $500m in commitments to third lending vehicle under the Orchard Landmark series of funds

OCP Asia is now a $2.25bn-sized lending manager after successfully attracting $500m in commitments from investors for its third lending vehicle under the Orchard Landmark series of funds.

Dan Simmons, a partner at OCP Asia, said the new fund which runs for seven years achieved its target of attracting $5OOm from investor and has started lending.

The new fund pursues the same proprietary lending strategy as OCP’s two earlier funds and will allocate to Australia, South East Asia, Indonesia, and “moderately” to China, Simmons said. The firm had pivoted from China towards Australia where around 50% of the portfolio is now being invested.

For instance, back in August the firm tripled down on privately-owned mining equipment hire company National Plant & Equipment, writing another A$50m check to take its exposure to the business to A$185m in three tranches.

The firm’s flagship strategy is up 6.57% year-to-date, according to AsiaHedge data, which follows on from the successful 2017 which saw the strategy book a 13.26% return.

OCP Asia provides customized secured lending to small and medium sized enterprises across the Asia Pacific region. Since 2004 the firm has completed more than 110 secured direct lending investments totaling over $4bn.