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Onex manages investment platforms focused on private equity, real estate and credit strategies. In total, the company manages approximately $22 billion, of which approximately $16 billion is other investors' capital. As well, Onex invests its own capital directly through its investing platforms and as a substantial limited partner in its private equity Funds.

The management of capital from other investors provides two significant benefits to Onex. First, Onex receives a committed stream of annual management fees on $14.3 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 2014, combined management fees and carried interest received more than offset ongoing operating expenses. Today, Onex has run-rate management fees of $132 million for the next 12 months. Onex does not earn any management fees on the capital it has invested or committed to the Onex Partners or ONCAP Funds.

Other Investors' Capital Under Management(1)

($ millions)

Total

Change

Fee Generating

Uncalled Commitments

Funds

June 30, 2015(2)

Dec. 31, 2014(2)

in Total

June 30, 2015

Dec. 31, 2014

June 30, 2015(2)

Dec. 31, 2014(2)

Onex Partners

$10,446

$9,598

9%

$8,868

$8,523

$3,594

$4,755

ONCAP

C$1,040

C$922

13%

C$785

C$785

C$156

C$291

Onex Credit(3)

$4,690

$4,342

8%

$4,690

$4,342

N/A

N/A


(1) Invested amounts included in other investors' capital under management are presented at fair value.
(2) Includes committed amounts from the management of Onex and ONCAP and directors based on the assumption that all of the remaining limited partners’ commitments are invested.
(3) Onex obtained a controlling interest in Onex Credit in January 2015. At December 31, 2014, Onex Credit was jointly controlled by Onex. Capital under management of Onex Credit at June 30, 2015 represents 100 percent of the other investors' capital managed by Onex Credit.