Over 29 Years of Successful Investing
Founded in 1984, Onex is one of the oldest and most successful private equity firms committed to acquiring and building high-quality businesses in partnership with talented management teams. As an active owner, the Company has built more than 70 businesses, completing approximately 400 acquisitions with a total value of approximately $49 billion. Onex’ long-term project returns have generated a multiple of invested capital of 2.8 times from its core private equity activities since inception, resulting in a 28 percent compound IRR on realized, substantially realized and publicly traded investments. The Company is guided by an ownership culture focused on achieving strong absolute growth, with an emphasis on capital preservation. With an experienced management team, significant financial resources and no debt at the parent company, Onex is well-positioned to continue to acquire and build businesses.
Onex manages its proprietary capital as well as capital entrusted to it by third-party investors from around the world, including public and private pension funds, sovereign wealth funds, banks, insurance companies and others.
Onex manages its $5.1 billion of proprietary capital largely through its two private equity platforms: Onex Partners (for larger transactions) and ONCAP (for mid-market transactions). The Company also invests through Onex Credit Partners and Onex Real Estate Partners. Onex’ long-term goal is to grow its proprietary capital by at least 15 percent per annum, and to have that growth reflected in its share price. For the three months ended March 31, 2013, Onex’ proprietary capital per share grew by 3 percent and our share price grew by 16 percent.
In addition to the management of Onex’ proprietary capital, Onex is entrusted with third-party capital from institutional investors around the world. The Company currently manages $10.8 billion of invested and committed capital on behalf of its investors and partners, of which 79 percent relates to its private equity platforms and the balance to Onex Credit Partners. The management of third-party capital provides two significant benefits to Onex. First, Onex receives a committed stream of annual management fees on $9.4 billion of third-party assets under management. Second, Onex has the opportunity to share in the profits of its third-party investors through the carried interest participation. Carried interest, if realized, can significantly enhance Onex’ investment returns. In 2012, combined management fees and carried interest received offset ongoing operating expenses.