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Adviser Profile

As of Date 03/28/2024
Adviser Type - Large advisory firm
Number of Employees 48 26.32%
of those in investment advisory functions 35 6.06%
Registration SEC, Approved, 2/17/2016
AUM* 3,716,365,781 42.48%
of that, discretionary 3,716,365,781 42.48%
Private Fund GAV* 2,203,117,974 49.57%
Avg Account Size 97,799,100 16.24%
SMA’s No
Private Funds 34 6
Contact Info 212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
3B 2B 2B 1B 1B 745M 373M
2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count34 GAV$2,203,117,974

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Brochure Summary

Overview

OIC, L.P. (the “Manager” or the “Adviser”) is a Delaware limited partnership and registered investment adviser founded in June 2015. The Manager and its affiliated investment advisers, described below (collectively with their affiliated entities, “OIC”), provide investment advisory services to OIC’s clients, which currently consist of private investment funds primarily focused on making investments in the energy and infrastructure industry. Orion Energy Credit Opportunities Fund II GP, L.P., Orion Energy Credit Opportunities Fund III GP, L.P., OIC Credit Opportunities Fund IV GP, L.P., OIC Growth Fund I GP, L.P. and OIC Structured Equity Fund I GP, L.P. (collectively, the “Main Funds General Partners”) (together with the SMA GPs (defined below) and any future general partner, managing member or other similarly authorized person of a private fund advised or sponsored by OIC, the “General Partners”) are registered as investment advisers pursuant to the Manager’s registration in accordance with SEC guidance under the Advisers Act. The General Partners and the Manager (together with any future affiliated investment adviser, the “Advisers”) are under common control and operate as a single advisory business. The principal owners and co-founders of OIC are Gerrit Nicholas and Nazar Massouh. The Advisers’ clients include Orion Energy Credit Opportunities Fund II, L.P. (collectively with any parallel fund or alternative investment vehicle formed in connection with it, “Fund II”), Orion Energy Credit Opportunities Fund III, L.P. (collectively with any parallel fund or alternative investment vehicle formed in connection with it, “Fund III”), OIC Credit Opportunities Fund IV, L.P. (collectively with any parallel fund or alternative investment vehicle formed in connection with it, “Fund IV”), OIC Growth Fund I, L.P. (collectively with any parallel fund or alternative investment vehicle formed in connection with it, “Growth Fund I”) and OIC Structured Equity Fund I, L.P. (collectively with any parallel fund or alternative investment vehicle formed in connection with it, “Structured Equity Fund I”) (together, the “Main Funds”). References throughout this Brochure to “a Fund” or “Funds” are generally intended to cover any existing or future private fund advised or sponsored by the Advisers or their affiliates, including, but not limited to, Fund II (which is OIC’s first fund), Fund III, Fund IV, Growth Fund I, Structured Equity Fund I, any SMAs (as defined below) and any Co-Invest Fund (as defined below). The Advisers expect to advise additional private funds and separate accounts in the future. As such, in addition to the Main Funds, the Advisors’ clients also include Orion AB Nautilus Infrastructure Fund I, L.P. (“AB Nautilus”), OIC DH Fund, L.P. (“DH Fund”), OIC Shine Fund, L.P. (“Shine Fund”), Orion Energy Partners Umbrella Fund I, L.P. (“Umbrella Fund”), and OIC Structured Equity LMI Fund, L.P. (“Equity LMI Fund” and together with AB Nautilus, Shine Fund and DH Fund, Umbrella Fund, the “SMAs”). Each of the SMAs has its own General Partner: respectively, Orion AB Nautilus Infrastructure Fund I GP, LP, OIC DH GP, L.P., OIC Shine GP, L.P., Orion Energy Partners Umbrella Fund I GP, L.P and OIC Structured Equity LMI Fund GP, L.P. (collectively, the “SMA GPs”). Additionally, from time to time, the Advisers expect to provide (or agree to provide) certain investors or other persons the opportunity to participate in co-invest vehicles (each a “Co-Invest Fund”) that will invest in certain portfolio companies alongside a Fund. Such Co- Invest Funds typically invest and dispose of their investments in the applicable portfolio company at the same time and on the same terms as the primary Fund making the investment. On occasion, however, a Co-Invest Fund or co-investor might purchase a portion of an investment from a Fund for strategic or other reasons. The Advisers generally expect any co-invest buy-down to occur shortly after the Fund’s completion of the investment to avoid any changes in valuation of the investment, and the Advisers could require a Co-Invest Fund or co-investor to pay interest on its buy-down in order
to compensate the Fund for the holding period. See “Participation or Interest in Client Transactions” for additional information regarding co-investment arrangements, including Co-Invest Funds. In general, each Fund’s General Partner has the authority to make investment decisions for such Fund but has delegated day-to-day management of the Fund to the Manager. The Advisers’ investment advisory services to the Funds include sourcing, identifying, evaluating, negotiating, overseeing, managing, monitoring and disposing of investments. The Advisers’ advisory services for each Fund are further described in, as applicable, the private placement memoranda (each, a “Memorandum”), limited partnership agreement (or similar operating agreement) (each, a “Partnership Agreement”), letter agreement or other similar agreement between a Fund or General Partner and an investor (collectively, “Side Letters”), an investor’s subscription agreement, and investment management agreement (each, an “Investment Management Agreement” and together with any applicable Memorandum, Partnership Agreement, Side Letter, and subscription agreement, the “Governing Documents”) as well as below under “Methods of Analysis, Investment Strategies and Risk of Loss” and “Investment Discretion.” The Advisers tailor their advisory services in accordance with each Fund’s investment strategy as disclosed in such Fund’s Governing Documents. Investors in the Funds (“Limited Partners”), however, are expected to participate in the overall investment program for the applicable Fund, but they can be excused from a particular investment due to legal, regulatory or other applicable constraints or for other agreed upon reasons. From time to time, the Advisers have and, in the future, expect to enter into Side Letters or other similar agreements with certain investors that have the effect of establishing rights under, supplementing or altering a Fund’s Partnership Agreement or an investor’s subscription agreement. Such rights or alterations could be regarding economic terms, fee structures, excuse rights, information rights, co-investment rights (including the provision of priority allocation rights to Limited Partners who have capital commitments in excess of certain thresholds to one or more Funds), or transfer rights. Other Side Letter rights are likely to confer benefits on the relevant investor at the expense of the relevant Fund or of investors as a whole, including in the event that a Side Letter confers additional reporting, information rights and/or transfer rights, the costs and expenses of which are expected to be borne by the relevant Fund. As a result of such rights, certain Limited Partners in the same Fund could experience different returns or have access to information to which other Limited Partners do not have access. A Limited Partner’s co-investment rights under a Side Letter could result in fewer co-investment opportunities or limited allocations provided to other Limited Partners. Furthermore, pursuant to a Fund’s Governing Documents, some of such rights, terms or conditions will be elected by certain sizeable investors with “most favored nations” (“MFN”) rights, but certain rights, terms or conditions will only be available to investors who participate in the first closing of the Fund and/or who invested in prior funds, with a similar strategy to the Fund, that were managed by one or more of the Fund’s principals. However, certain additional rights could have the effect of increasing the expenses borne by the Fund or its Limited Partners not party to the particular Side Letter, including for example with respect to costs incurred in providing a Limited Partner additional information or reporting that is not borne by the requesting Limited Partner. As of December 31, 2023, the Advisers have $3,716,365,781 in client assets under management, all of which is managed on a discretionary basis. The information provided herein about the investment advisory services provided by the Manager is qualified in its entirety by references to the Funds’ Governing Documents.