Over more than three decades, Onex has employed an active approach to building industry-leading businesses. Onex manages its own capital and that of investors from around the world, including public and private pension funds, sovereign wealth funds, banks and insurance companies. The Company has generated a gross multiple of capital invested of 2.8 times from its private equity activities since inception on realized, substantially realized and publicly traded investments.
Throughout our history, we have developed a successful approach to investing. In private equity, we pursue businesses with world-class capabilities and strong free cash flow characteristics where we have identified an opportunity, in partnership with company management, to effect change and build market leaders. As an active owner, we are focused on execution rather than macro-economic or industry trends. Specifically, we focus on (i) cost reduction and operational restructurings; (ii) platforms for add-on acquisitions; and (iii) carve-outs of subsidiaries and mission-critical supply divisions from multinational corporations.
Historically, we have been relatively conservative with the use of financial leverage, which has served Onex and its businesses well through many cycles.
We typically acquire a control position, which allows us to drive important strategic decisions and effect change at our businessess. Onex does not get involved in the daily operating decisions of the businesses.
Today, Onex' private equity investment activities are conducted exclusively through its Onex Partners and ONCAP fund families. Onex participates in all these funds as the largest limited partner and through its ownership of the funds' general partners and managers.