Onex Credit Partners prices 11th CLO at $500 mln

Onex Credit Partners LLC, the credit investment arm of Canadian private equity firm Onex Corp, has priced its 11th collateralized loan obligation (CLO) offering at US$500 million. The transaction will be issued by a newly formed special purpose vehicle, backed by a portfolio of syndicated leveraged loans. Onex has committed to purchase and hold most of the equity. With the offering's close, the credit group will manage about US$7 billion. Earlier this month, Onex hired Walt Jackson, formerly of Goldman Sachs, to launch the firm’s direct lending platform.

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