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Toronto-based Onex Corp to establish $1.5bn co-investment fund14/03/2003. Source: AltAssets. 
 Canadian financial group Onex Corporation has announced its plans to launch a $1.5bn private equity fund to which it has pledged an initial $300m, a sum that may be increased on an annual basis.
Onex said that the fund would provide committed capital for new acquisitions not related to Onex existing operating companies.
The fund, should it reach its $1.5bn target, will reportedly be more than ten times larger than its closest Canadian rivals.
Onex managing director Andrew Sheiner told The Globe and Mail that the fund would be targeting institutional investors including pension funds in North America and Europe.
Canadian pension funds in particular have demonstrated an increasing interest in private equity funds, as the medium-term outlook for public equities markets remains miserable.
Two of the pension funds involved in the buy-out of Deutsche Bank's private equity investments portfolio in February were Canadian: the Canada Pension Plan Investment Board and the Ontario Teachers Pension Plan.
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