We believe in the alignment of interests among our various stakeholders, including Onex, its shareholders, the limited partners and Onex management. The Company is the largest limited partner in each of its funds, which aligns Onex’ interests with those of its Limited Partners. Onex’ distinctive ownership culture requires the management team to have a significant ownership in Onex and to invest meaningfully in each operating business we acquire. At December 31, 2015, the Onex management team:
- Was the largest shareholder in Onex, with a combined holding of approximately 17.5 million shares or 17 percent of outstanding shares;
- Had a total cash investment in Onex’ current operating businesses of approximately $340 million; and
- Had a total investment at market in Onex' credit platform of approximately $275 million
As well, the Onex management team is required to reinvest 25 percent of all Onex Partners carried interest and Management Investment Plan distributions into Onex shares until they individually own at least one million shares and hold these shares until retirement.
We believe that our superior track record is a direct result of this strong alignment.