Onex Partners IV approaches fund target with $3.7 bln raised to date
Onex Partners IV has raised a total of US$3.7 billion in capital commitments to date, according to the fund's manager Canadian private equity firm Onex Corp (TSX: OCX). That puts the firm's flagship partnership, launched in 2013, within reach of its US$4.5 billion target. Buyouts, a sister publication to peHUB Canada, last month reported that Fund IV is expected to reach its final close by mid-2014. Releasing its full-year financial results, Onex also said that distributions from its private equity funds totaled US$2.9 billion in 2013, which is the second highest year in the firm's history. Additionally, the private companies of Onex Partners and mid-market platform ONCAP last year generated returns of 34% through combined distributions and realizations.
