Asset Management text size [+][]
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 other investors’ capital provides two significant benefits to Onex: (i) the Company
earns management fees on $14.6 billion of assets under management and (ii) Onex has the opportunity to share
in the profits of its investors through the carried interest participation. This enables Onex to enhance the return
from its investment activities. In 2014, combined management fees and carried interest received more than offset
ongoing operating expenses. Onex Partners, ONCAP and Onex Credit earned a total of $99 million in management and transaction fees in 2014, and today Onex has run-rate management fees of approximately $130 million for the next 12 months. Given the amount of management fees and carried interest received to date, Onex expects to offset ongoing operating expenses in 2015. Onex does not earn any management fees on the $4.3 billion of capital it has invested or committed to the Onex Partners and ONCAP Funds. The additional run-rate fees that would be earned on this capital if it were subject to the same management fees as other investors is $39 million.

Other Investors' Capital Under Management(1)

($ millions)



Fee Generating

Uncalled Commitments


Sept. 30, 2015(2)

Dec. 31, 2014(2)

in Total

Sept. 30, 2015

Dec. 31, 2014

Sept. 30, 2015(2)

Dec. 31, 2014(2)

Onex Partners
















Onex Credit(3)








(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 September 30, 2015 represents 100 percent of the other investors' capital managed by Onex Credit.