When Onex was founded in 1984, we had a staff of three, $50 million from a small group of investors and a simple strategy: find fundamentally good businesses to own, improve and build.
In 1987, we completed an initial public offering on the Toronto Stock Exchange and in 1999 we raised our first private equity fund. In total, we have close to $12.4 billion from partners around the globe through eight Onex Partners and ONCAP Funds. We are currently investing from Onex Partners IV, a $5.7 billion fund. In November, Onex completed the fundraising for ONCAP IV, raising a total of $1.1 billion in aggregate commitments, including Onex’ commitment of $480 million.
In 2007, Onex acquired an interest in an investment advisor focused on credit investing, which managed $300 million. Today, Onex Credit manages $7.5 billion of non-investment grade credit.
At Onex, we don’t just say it, we do it. Every time we invest capital on behalf of our shareholders and fund investors, the investment professionals of Onex and executives of the businesses we own invest as well. This alignment is elemental to preserving capital, generating superior returns for everyone and building future generations of entrepreneurs for Onex.