WEST PALM BEACH, FL (HEDGECO.NET) – The Canadian based Onex Corporation released a statement announcing the closing of its hedge fund, the Onex PartnersLLP, as assets in the fund reached US$165billion. Investors in the Onex fund include public and private pension funds, banks, insurance establishments, and other investors from around the world.<\/p>\n
Onex Corporation also committed US$400 million of its assets into the portfolio as a limited partner. The release further stated that Onex principals have made a 1% ($22 million) capital commitment to the Fund and may also provide up to an additional 3% of the total capital invested by the Fund.<\/p>\n
According to the released statement, the Onex hedge fund was established to sponsor future Onex endeavors and is anticipated that the fund would typically invest an estimated US$125-350 million in new established companies, such as the Magellan Health Services fund which was closed to outside investors Jan. 15, 2004.<\/p>\n
The new Onex Partners LLP would have an investment period of about 6 years according to the released statements; third party investors would be charged a management fee of 2%. General partners of the Onex hedge fund would also be charged an additional 20% performance fee subject to an 8% compound annual preferred return to such limited partners on all amounts contributed to the Fund the statement added.<\/p>\n
Gerald W. Schwartz, Chairman and CEO of Onex Corporation said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdWe are delighted by the enthusiastic response we received for the Fund; we look forward to putting this committed capital to work to build significant value for both Onex shareholders and Fund investors\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Onex Corporation is one of the largest Corporations in Canada, with annual consolidated revenues of about US$12 billion and consolidated assets of about US$9 billion according to company statements.<\/p>\n
Paul Oranika
Editor-in-Chief
Hedgeco.Net
Email: Editor@hedgeco.net<\/p>\n","protected":false},"excerpt":{"rendered":"
WEST PALM BEACH, FL (HEDGECO.NET) – The Canadian based Onex Corporation released a statement announcing the closing of its hedge fund, the Onex PartnersLLP, as assets in the fund reached US$165billion. Investors in the Onex fund include public and private […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2330","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/2330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=2330"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/2330\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=2330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=2330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=2330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}