Onex Partners
Anyone have any insight into Onex Partners' NYC PE? Deals, fundraising, size, associate comp?
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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
Think I read a WSJ article earlier this year about zombie funds and they quoted Onex multiple times….
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