Onex Credit Partners

Co-founders Stuart Kovensky and Ronnie Jaber lead the firm as managing directors. Both spent years on Goldman Sachs' leveraged-finance desk before launching Onex Credit Partners in 2010. The firm sits inside Onex Corporation's credit platform, which also houses Paul Marzotto and other senior investors who oversee CLO and structured-credit strategies. Final underwriting authority on direct-lending transactions rests with the co-founders and their investment committee, subject to Onex Corporation's board-level risk frameworks.

It is a third-party asset manager, not a family office. Onex Credit Partners manages capital for institutional limited partners including pension funds, insurance companies, and sovereign wealth funds alongside Onex Corporation's own balance-sheet coinvestments. The parent company, Onex Corporation, is a publicly traded alternative-asset manager, not a family office vehicle.

Onex Credit Partners is a wholly owned subsidiary of Onex Corporation (TSX: ONEX). Gerry Schwartz founded Onex in 1984 as a Toronto-based private equity firm, and the firm went public in 1987. The credit arm was established in 2010 to extend Onex's middle-market reach into senior-secured lending. Onex Corporation provides permanent capital to the credit platform and typically co-invests 20 to 30 percent of each loan transaction.

The firm concentrates on first-lien, senior-secured loans. Target borrowers are North American middle-market companies in business services, industrials, healthcare, and technology services. The broader Onex Credit platform also manages CLOs and structured credit, but the core direct-lending business that Kovensky and Jaber run focuses on senior-secured senior loans rather than mezzanine, unsecured, or deeply subordinated debt.

Yes. Onex Corporation routinely co-invests alongside limited-partner capital in credit transactions, typically taking 20 to 30 percent of each deal on its own balance sheet. The alignment structure is designed to match the model used in Onex's private equity funds, one application of permanent public-company capital that independent credit funds lack.