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Onex raises $7.15bn

The Toronto-based private equity firm exceeds the target set for its latest fund.

Onex Partners V has held a final close at $7.15 billion, surpassing its target of $6.5 billion. Onex contributed $2 billion to the fundraise, making it the largest investor. The firm will continue to pursue high-quality global businesses based in North America with this latest fund close.

The private equity vehicle received strong support from investors including the New Jersey Division of Investment, Los Angeles County Employees’ Retirement Association, Texas County and District Retirement System and Massachusetts Pension Reserves Investment Management Board.

Onex Partners IV held a final close in May 2014 at $5.7 billion.