Celebrating the Final Close of ONCAP V Fund
ONCAP, the dedicated private equity platform of Onex Corporation, has successfully concluded the final close for ONCAP V, achieving total commitments of an impressive $1.3 billion. This amount includes a substantial $250 million commitment from Onex itself, marking a significant milestone for the fund and showcasing the confidence that investors have in Oncap's capabilities.
Key Achievements of ONCAP V
The successful fundraise reflects several key objectives that ONCAP V has surpassed when compared to its predecessor fund. Notably, there was a remarkable increase of over 50% in third-party capital, demonstrating a robust demand for investment opportunities through ONCAP. In addition, ONCAP welcomed a range of new investors, enhancing its diverse investor base and validating its strategic investment approach.
Deployment and Investment Strategy
As of now, ONCAP V is 40% deployed, having already made four significant investments. This proactive deployment strategy indicates the fund's commitment to identifying and leveraging high-quality investment opportunities across various sectors. In a strong performance indicator, ONCAP returned $530 million to its Limited Partners, translating to over 20% of its total net asset value, showcasing efficiency and value generation within the fund.
Leadership Insights
Michael Lay, the Managing Partner of ONCAP, expressed immense pride in the team's accomplishments during this fundraising round. He emphasized the organization's unique market position and investment framework, which has been honed over a history of 25 years and 235 investments. This experience empowers ONCAP to pursue substantial growth moving forward, while delivering robust risk-adjusted returns to investors.
Broader Impacts on Onex Corporation
ONCAP's achievements align with Onex Corporation's overall success. With various funds raising capital successfully, including approximately $2.4 billion of fee-generating assets amassed through tactical allocation and structured credit strategies, Onex continues to solidify its reputation in investment management. Bobby Le Blanc, CEO of Onex, noted the importance of this momentum and the strong positioning of the firm across its platforms.
About ONCAP and Onex Corporation
ONCAP was founded in 2000 as a lower mid-market private equity platform, focusing on investing in and partnering with businesses headquartered in North America. Currently, it operates with a dedicated team managing $3.5 billion in assets, primarily from its headquarters in Toronto and an office in New York.
Contact Information for Further Inquiries
Inquiries regarding ONCAP and its operations can be directed to:
Jill Homenuk
Managing Director – Shareholder Relations and Communications
Tel: +1 416.362.7711
Zev Korman
Vice President, Shareholder Relations and Communications
Tel: +1 416.362.7711
Frequently Asked Questions
What is ONCAP V?
ONCAP V is a private equity fund managed by ONCAP, which has recently achieved a final close with total commitments of $1.3 billion.
How much did Onex Corporation contribute to ONCAP V?
Onex Corporation contributed $250 million to ONCAP V as part of the total commitments.
What percentage of ONCAP V is currently deployed?
Currently, ONCAP V is 40% deployed across various investments.
What are the investment goals of ONCAP?
ONCAP aims to invest in North American businesses focusing on generating sustainable, risk-adjusted returns for its investors.
Who leads the ONCAP team?
The ONCAP team is led by Michael Lay, the Managing Partner, who emphasizes a robust investment framework and strategic approach.
