Wow. Sad situation. Onex Partners just paused fundraising on new flagship fund. Anyone have details? Heard rumors of bleeding talent at all levels and a recent wave of cuts (to both investment and ops team).
Announced target was $8 billion and they didn’t even get to $1 billion of external capital. I know PE fundraising has been tough, but this seems really bad…
| +50 | Everyone Seems Perfect in PE | 20 | 2d | |
| +28 | To all associates coming up on the 2 year mark, how bad is it to have no deals done? | 7 | 1d | |
| +27 | Easiest way to make about $2mm/y | 19 | 6h | |
| +26 | VP Level - when to follow up after final round | 10 | 8h | |
| +26 | What's Next? | 4 | 4d | |
| +22 | What happens if you go for on-cycle and don’t land an offer? | 23 | 4d | |
| +16 | Vista Lateral Associate | 4 | 43m | |
| +14 | EBITDA walkdown to cash flow for debt service | 10 | 4d | |
| +14 | What do you hate the most about second round diligence? | 9 | 3d | |
| +13 | Why is Blackstone so dominant? | 9 | 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
That sounds extraordinarily bad - while this is absolutely a tough climate for fundraising, I'd have to imagine their current vintage must be doing very poorly in order to only raise < 1/8 of their target...
There's going to be a lot more of this (but likely not nearly as bad as this).
Jeez that's a rough one... hold on to your jobs tightly boys and girls, the next year or two are gonna hurt!
Been hearing rumours on the street for a few months now but did not think it was this bad. Did some reading and apparently they only raised ~$500M external capital out of the target ~$8B. Crazy stuff
Their returns are all public. Haven’t had a 1st/2nd quartile fund since 2003
Funny that at the same time, Bruce Flatt came out and said 2023 is going to be a strong year for fundraising. Man likes to project a bit but also delivers.
Curious if Onex has had any home runs lately? Don't see why you couldn't raise unless you have unhappy LPs.
Nihil itaque excepturi praesentium aperiam error possimus. Eum quis sunt hic aut et sed soluta. Et sint voluptate laudantium deserunt repellendus. Quibusdam culpa et exercitationem ad. Qui quia temporibus veniam rem repellendus qui.
Distinctio neque eius alias quae. Et nisi quis magni id. In praesentium recusandae consequatur quia similique.
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...