Major Merger & Acquisition Advisory Deal
Orchard Funds Management
Orchard Funds Management - Melbourne, VIC, Australia

DC CAPITAL Role – Deal Origination and Structuring

Structured successfully the Au $200m refinance and takeover of Orchard, a retail property fund manager with over AU $2bn of direct property and property funds under management. The deal structure balanced the various stakeholders’ interests to buy the bank debt and recapitalise the funds.

The deal structure was highly complex and involved:

• Buying bank debt at a reasonable discount
• Buy a controlling stake in Orchard
• Buy units owned in Orchard funds at significant discount
• Offering to buy units in the funds directly from unitholders looking to sell
• Additional units in funds being purchased via rights