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Onex surpasses target for Onex Partners V, raises $7.15 bln

Canadian private equity firm Onex Corp has closed fundraising for its fifth flagship fund, bringing in $7.15 billion in committed capital.

Onex Partners V, the largest fund raised by the Toronto investor in its 33-year history, exceeded its $6.5 billion target by 10 percent. It is also 25 percent larger than Onex Partners IV, which raised $5.7 billion in 2014.

Fund V secured commitments from both new and existing limited partners, including pension plans, sovereign wealth funds, and other institutional investors, as well as a $2 billion commitment from Onex.

With the fund’s close, the firm now has more than $30 billion in assets under management.

Photo: Gerry Schwartz, chairman and CEO of Onex Corp.