Over 30 Years of Successful Investing
Founded in 1984, Onex is one of the oldest and most successful private equity firms with a long, established track record and a disciplined, active-ownership approach to investing. Onex focuses on creating long-term value by building industry-leading businesses in partnership with outstanding management teams. As an active owner, the Company has built more than 75 businesses, completing approximately 465 acquisitions with a total value of approximately $51 billion. Onex’ long-term project returns have generated a gross multiple of capital invested of 3.0 times from its core private equity activities since inception, resulting in a 28 percent gross compound IRR on realized, substantially realized and publicly traded investments. The Company is guided by an ownership culture focused on achieving strong absolute growth, with an emphasis on capital preservation. With an experienced management team, significant financial resources and no debt at the parent company, Onex is well-positioned to continue to acquire and build businesses.
Onex manages its capital as well as capital entrusted to it by other investors from around the world, including public and private pension funds, sovereign wealth funds, banks and insurance companies.
Other Investors Capital
Onex' capital at September 30, 2014 was $5.9 billion. Most of Onex' capital is invested in or committed to its two private equity platforms: Onex Partners (for larger transactions) and ONCAP (for mid-market transactions). The Company also invests through its credit platform, Onex Credit Partners, and Onex Real Estate Partners. A significant portion of Onex’ capital is currently in cash and near-cash items due to realizations in the past 12 months. Onex’ long-term goals is to grow its capital per share by at least 15 percent per annum, and to have that growth reflected in its share price. For the nine months ended September 30, 2014, Onex’ capital per share grew by 4 percent in U.S. dollars (9 percent in Canadian dollars). In the 12-month period ended September 30, 2014, Onex’ capital per share grew by 12 percent in U.S. dollars (22 percent in Canadian dollars) and our share price grew by 15 percent in Canadian dollars. Close
In addition to the management of Onex’ capital, Onex is entrusted with capital from institutional investors around the world. The Company currently manages $14.1 billion of invested and committed capital on behalf of its investors, of which 72 percent relates to its private equity platforms and the balance to Onex Credit Partners. The management of capital provides two significant benefits to Onex. First, Onex receives a committed stream of annual management fees on $13.0 billion of other investors’ assets under management. Second, Onex has the opportunity to share in the profits of its investors through the carried interest participation. Carried interest, if realized, can significantly enhance Onex’ investment returns. In 2013, combined management fees and carried interest received offset ongoing operating expenses. Given the amount of management fees and carried interest to date, Onex once again expects to offset on going operating expenses in 2014. Close