Onex Starts Fundraising for Fourth Fund, Commits First $1.2B

Toronto-based buyout firm Onex Corp. (TSX: OCX) announced that it has launched fundraising for its fourth partnership, Onex Partners IV, targeting a fund size of US$4.5 billion. Onex will be the largest limited partner with an early commitment of US$1.2 billion. The firm closed Onex Partners III in late 2011 at US$4.7 billion. Onex also reported that including realizations and distributions of about US$500 million, the value of Onex’ interest in Onex Partners' and ONCAP’s investments grew by 20% and 16%, respectively, in the six months ended June 30, 2013.

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