Does anyone have any updates on how Onex is doing? Heard of fundraising struggles but saw that they recently sold a few assets and closed a large CV. How would you rank them in the market today, particularly in London?
| +81 | The Peanut Portco | 7 | 3d |
| +55 | Seeking External Perspectives | 17 | 1h |
| +21 | Reneging on an offer | 8 | 7h |
| +21 | Rejoining old firm - Guaranteed Promotion? | 1 | 17h |
| +19 | Negotiating sale economics with CEO? | 4 | 2d |
| +19 | American PE VP who needs to move to London for personal reasons - how should I go about it? | 8 | 2d |
| +19 | Cold Pitching an Investment Idea for a VP Seat | 3 | 1d |
| +18 | Career Advice | 1 | 2d |
| +18 | LMM PE to PE-backed Corp Dev? | 2 | 5d |
| +16 | GP Associate 1 Comp | 5 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Bump
I don’t know them but rarely see them. Hearsay they don’t really deploy or try to deploy and it’s mostly asset mgmt and exit
Avoid, why join a sinking ship
When you ask someone in PE to give an example zombie fund, Onex is the first or one of the top three names that will pop-up. It's been almost 10 years since their last fundraise; unless these investments are clearing 4-5x MOIC's the IRR's are likely not very good in their exits. Getting DPI is important, but no LP wants sub 10-15% returns for a 10+ holding period when we have been on one of the greatest bull-runs in that same period.
One of my buddies works at Onex Partners in Toronto and they look a lot better than people think. They raised a smaller fund recently focused on their core verticals and heard that fund is crushing it. The zombie stuff is stale. New leadership and cutting some of their bad verticals has helped apparently.
Could your buddy point to any proof of this that would be publicly available? I've heard rumours that all is not lost at Onex and yet tbh it feels like cope.
What did they say in their last earnings call?
how could the smaller fund already be "crushing it"? Have they seen realizations
Apparently they've returned capital on the first two deals in the smaller fund (2024 vintage) within 18 months. if you look at the public company filings, that smaller fund was up 30%+ after a year. Time will tell but the past 24 months at least seem to have been positive for the Onex Partners business.
Look at "economyisland" comment history - 5 comments all defending Onex
lol I live in Toronto, not much else to talk about!
I know quite a few people on the inside. Onex saw a lot of churn in London and New York where the recruiting markets are better, while being stronger at retention in Toronto (where there aren’t really many good options). Best performers all left to top funds (Advent, Warburg, Apollo, CVC, Inflexion, HIG to name a few), quite a few people also got fired as the firm was downsizing following the fund VI failure in 2023/24. Those who remained are getting paid well but outlook remains dire.
Inflexion and HIG in the same breath as the others is certainly a choice
Velit pariatur aut corporis necessitatibus culpa ullam. Assumenda sit est nihil omnis. Minus velit et maiores dolor.
Reprehenderit autem praesentium aperiam sit unde blanditiis. Labore dolorem ducimus accusantium dolorem ex ad consectetur. Veniam et non quia tempore. Nihil illo est iusto blanditiis.
Fuga eos accusamus asperiores rem. Ut sunt vitae qui quidem. Aut qui quia quo id. Veritatis odio maiores dolorem voluptatem et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...