Onex Canada Asset Management funds raise $148M

Ted Liu

Onex Canada Asset Management Inc. has reported fundraising for the following funds in 2023:

  • Onex High Yield Bond Fund (Canada)
  • Onex Premium Income Trust and Fund
  • Onex International Fund
  • Onex U.S. Equity Fund
  • Onex Dividend Distribution Fund
  • Onex Global Special Situations Alternative Fund
  • Onex Senior Credit Fund (Canada)

All together, those funds raised a combined $147.95 million.

Onex Canada Asset Management Inc. acts as the fund manager and portfolio manager for the funds. Onex Credit Partners, LLC acts as a sub-adviser for Onex High Yield Bond Fund (Canada) and Onex Senior Credit Fund (Canada).

Formerly Gluskin Sheff + Associates Inc., Onex Canada Asset Management Inc. is a unit of Onex Corporation (TSX: ONEX).

In June 2019, Onex acquired Gluskin Sheff + Associates Inc. (formerly TSX: GS) for US $330 million.

In March 2023, Onex announced the entering of an agreement with RBC Wealth Management Canada (RBC WMC) to transfer principal operations of Gluskin Sheff to RBC WMC. All advisor team employees of Gluskin Sheff will be offered employment with RBC WMC. Onex said it will wind down Gluskin Sheff’s wealth management and wealth planning operations not transferred to RBC WMC.