Onex is one of the oldest and most successful private equity firms committed to acquiring and building high-quality businesses in partnership with talented management teams. Onex manages investment platforms focused on private equity, real estate and credit strategies. In total, the company manages approximately $20 billion, of which approximately $14.1 billion is Other Investors' capital. As well, Onex invests its own capital directly and as a substantial limited partner in its Funds.
As an investor first and foremost, Onex invests its $5.9 billion of capital largely through its two private equity platforms: Onex Partners (for larger transactions) and ONCAP (for mid-market transactions). The Company also invests through Onex Credit Partners and Onex Real Estate Partners. Onex is in excellent financial condition, with ample cash on hand and no debt at the parent company.
Onex is entrusted with capital from institutional investors around the world. The Company 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. The management of capital from other investors 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 received to date, Onex expects to once again offset ongoing operating expenses in 2014.