Onex Partners V raises lion’s share of $6.5 bln target in first close

Onex Corp held an initial close on fundraising for its fifth flagship private equity fund, securing 80 percent of the US$6.5 billion target. In its report of second-quarter 2017 results, Onex said it raised US$5.2 billion for Onex Partners V in July. Included in the amount is US$3.1 billion of third-party capital. Additionally, Onex, a listed firm, committed US$2 billion, while management made a minimum 2 percent commitment. The close positions the fund to become the biggest in the Toronto investor’s 33-year history.

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