Based on the most helpful WSO content, here’s what you need to know about Onex Partners' NYC Private Equity operations:
Deals and Fundraising:
Onex Partners has historically been involved in large-scale private equity deals, focusing on sectors like healthcare, industrials, and services.
However, recent insights suggest the firm has faced some challenges, including underperformance and attrition at senior and junior levels. This could impact deal flow and overall fundraising momentum.
Size:
The NYC office is part of Onex's broader operations, but specific headcount details for the NYC office compared to Toronto are not explicitly mentioned. However, the Toronto office is often highlighted as a significant hub for the firm.
Associate Compensation:
Compensation at Onex is competitive and reportedly in line with U.S. mega-funds (MFs), with pay in the range of $300K–$350K USD for associates. This includes base salary and bonuses, making it attractive for those entering the private equity space.
Culture and Work Environment:
The culture at Onex has been described as intense, with a "meat grinder" reputation. The firm is known for demanding hours and a high-pressure environment, which may not appeal to everyone.
If you're considering Onex Partners, weigh the competitive compensation and deal exposure against the cultural challenges and recent firm dynamics.
What fundraising? Their last flagship fund was raised in 2017, almost a decade ago. When someone in PE thinks of modern zombie funds, Onex is either the first name or one of the first that come to mind
They have been for the past 7-8 years. No firm spends 9 years since the last fund not fundraising. PE firms are incentivized to keep raising new and larger funds as that means more money for GP's.
Any other insights? Heard that the pay is above market and that’s how they keep people. Returns continue to be bad so unlikely they raise a proper flagship vehicle again
Above average pay is great for the short term until you realize you will never even sniff carry and there's no spot for any promotions after a certain point because you are at a zombie fund. Good luck lateraling with no deal experience outside of praying for a massive bull rally so that you can sell a portco for some kind of profit.
Comments are spot on. I know someone who left last year and feels like the only ones left are those who struggle to leave (no deal experience, too senior with no track record etc) or want to get paid out when they close shop
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Et fugiat qui vero in et. Quia ex voluptatibus asperiores quaerat dolores accusamus dolores. Deleniti exercitationem aliquid culpa dolor sit aut.
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Based on the most helpful WSO content, here’s what you need to know about Onex Partners' NYC Private Equity operations:
Deals and Fundraising:
Size:
Associate Compensation:
Culture and Work Environment:
If you're considering Onex Partners, weigh the competitive compensation and deal exposure against the cultural challenges and recent firm dynamics.
Sources: Brookfield vs. Onex vs. Altas [TORONTO OFFICE] - Which One is Best?, ONEX New York v Toronto Office
What fundraising? Their last flagship fund was raised in 2017, almost a decade ago. When someone in PE thinks of modern zombie funds, Onex is either the first name or one of the first that come to mind
I think they’re in fundraising mode now, not going to be easy given market conditions. Wait and see
They have been for the past 7-8 years. No firm spends 9 years since the last fund not fundraising. PE firms are incentivized to keep raising new and larger funds as that means more money for GP's.
Avoid
Spoke to some junior people there and they apparently had a lot of turnover with people leaving to better funds, especially in Europe
Any other insights? Heard that the pay is above market and that’s how they keep people. Returns continue to be bad so unlikely they raise a proper flagship vehicle again
Above average pay is great for the short term until you realize you will never even sniff carry and there's no spot for any promotions after a certain point because you are at a zombie fund. Good luck lateraling with no deal experience outside of praying for a massive bull rally so that you can sell a portco for some kind of profit.
Not good and all their ppl trying to leave. It is falling apart. Avoid
I looked and in New York they have no associates left, looks like they lost their last one to Warburg… tells you all you need to know
Onex to Warburg is a crazy good move
Comments are spot on. I know someone who left last year and feels like the only ones left are those who struggle to leave (no deal experience, too senior with no track record etc) or want to get paid out when they close shop
Rem quasi veniam quis maiores rerum. Porro placeat ut animi veniam quo neque eveniet. Ea rem velit animi sint sunt harum.
Et fugiat qui vero in et. Quia ex voluptatibus asperiores quaerat dolores accusamus dolores. Deleniti exercitationem aliquid culpa dolor sit aut.
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