Onex’ business objective is to create long-term value for shareholders and to have that value reflected in its share price. Our strategies to deliver this value are concentrated on (i) acquiring and building industry-leading businesses and (ii) managing and growing fund investor capital in our private equity and credit platforms.
The performance of our private equity portfolio has been, and will continue to be, the primary driver of Onex' net asset value growth. Over more than 30 years we have generated a 28% gross IRR on our realized, substantially realized and publicly traded investments. Today, approximately 62% of Onex' capital is invested in private equity, 8% is invested in sub-investment grade credit and the balance is held in cash and other investments.
We believe we can double our net asset value per share over five years because of our experience, our investing culture and our consistent approach to value creation.
As the result of our successful track record, we have attracted fund investors from around the world who entrust us to invest their capital alongside ours. Today, Onex manages approximately $16 billion of fee-generating capital.