Canadian Onex Corporation announces first closing at US$1bn

‘We are pleased to welcome new investors to Onex Partners and look forward to the opportunities we have today to create both shareholder value and long-term relationships with private investors,’ said Gerard Schwartz, chairman and CEO of Onex Corporation.

‘With $1bn in committed capital, and a target of US$1.6bn, we will be well positioned to build upon our 19-year track record of acquiring and building great companies,’ he said.

Onex is one of Canada’s largest companies with operations in service, manufacturing and technology industries. Onex has contributed $400m to the fund.

The firm said its fund would provide committed capital for future Onex-sponsored acquisitions but not related to Onex’ existing operating companies.

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