Onex Partners is our flagship private equity investment platform. Onex Partners focuses on large-scale, value-oriented acquisitions of leading businesses based in North America.
Onex Partners I started in November 2003 with US$1.655 billion, of which US$400 million was committed by Onex. Onex Partners I was substantially invested by November 2006, with 10 completed acquisitions. At December 31, 2009, the fund had achieved an IRR of 75% and returned 4.0x invested capital since inception, based on realized and publicly traded investments.
Onex Partners II started in August 2006 with US$3.45 billion, of which US$1.4 billion was committed by Onex. At December 31, 2009, Onex Partners II was approximately 80 percent invested, with more than US$2.9 billion of capital at work in seven investments.
In December 2009, Onex completed fundraising for
Onex Partners III, reaching its original fundraising target of US$3.5 billion of third-party capital. Onex increased its commitment to the Fund to US$800 million for a total fund size of US$4.3 billion.
The Onex Partners team has approximately 60 professionals. This includes best-in-class investment, tax, financial, legal and reporting professionals.