Orion Infrastructure Capital

OIC houses three dedicated verticals — Infra Credit (led by Ethan Shoemaker), Infra Equity (led by Chris Leary), and Infra Growth (led by Jeremy Glick) — each with its own senior investment team. They run separate strategy-specific pools of capital rather than a single multi-strategy fund. CIO Rui Viana oversees all three to maintain consistent risk management and a unified sourcing funnel.

The IDEA Group, led by London-based Partner Reyno Norval, integrates environmental and social measurement into OIC's investment process. It functions as both an impact-reporting engine and a sourcing differentiator, particularly for deals where regulatory thresholds — such as carbon borders or biodiversity offsets — make project viability contingent on demonstrated sustainability metrics.

OIC originates and structures its own credit, equity, and growth investments directly. Its strategy relies on proprietary sourcing through industry relationships and sector-specialist teams, not on primary commitments to third-party infrastructure funds. The firm occasionally co-invests alongside other direct infrastructure investors on larger deals.

OIC targets middle-market private companies in transition infrastructure — businesses that build, own, or enable physical assets tied to energy, agriculture, and waste systems. Typical deals involve companies generating under $100 million in revenue, where a single provider of flexible debt and equity can simplify a complex capital structure and accelerate project deployment.

The firm invests primarily in North America and Europe, with deal teams in New York, Houston, and London. Its credit strategy has funded waste-management operators in the United States and European recycling infrastructure; its equity strategy has backed North American solar asset managers and electric-vehicle infrastructure providers.

OIC leans on its operator-heavy team — roughly a third of senior professionals have prior experience running operating companies rather than coming from traditional private equity or credit backgrounds. The firm advertises to prospective portfolio companies that it can underwrite technical, regulatory, and operational risks that generalist lenders bypass, positioning itself as a capital-stack partner for infrastructure entrepreneurs.

It is an institutional asset manager, not a family office. The firm raises capital from external limited partners across its specialized vehicles, and its compliance and reporting structure — including a CCO role held by Partner Mark Friedland — reflects third-party fiduciary obligations.