ADVISORY BUSINESS
ONCAP Management Partners L.P. (“ONCAP Manager”) is an investment adviser with its principal place
of business in Toronto, Ontario and an additional office in New York, NY. ONCAP Manager is registered
under the Advisers Act and together with certain affiliates, serve as managers or general partners to certain
private equity funds sponsored by Onex Corporation. ONCAP Manager and its affiliates managing those
funds (collectively with ONCAP Manager, the “Manager”) are under common control and are subject to
ONCAP Manager’s code of ethics and compliance program adopted pursuant to the requirements of the
Advisers Act. In this Brochure, Onex Corporation and the Manager are collectively referred to as “Onex”
and the funds described in the previous sentence are referred to as the “ONCAP Funds”.
Onex Corporation, a public company based in Canada, has been acquiring and building businesses as a
private equity investor since its inception in 1984. Starting in 1999, Onex Corporation began to develop a
broader asset management business with the sponsorship of a series of private equity funds, the
establishment of a credit-oriented investment business, and the making of a number of real estate
investments. Onex Corporation is listed on the Toronto Stock Exchange, and Gerald W. Schwartz, its
founder and Chairman, is the company’s controlling shareholder. Bobby Le Blanc is the company’s Chief
Executive Officer. Onex Corporation, indirectly through certain subsidiaries, is the only owner of more
than 25% of ONCAP Manager.
The Manager serves as investment manager of and provides administrative services to the ONCAP Funds,
to the special
purpose vehicles established to implement certain of their investments, and to certain co-
investment vehicles established in connection with and invested alongside the ONCAP Funds (collectively,
the “Funds”), all based on the investment objectives, policies and restrictions contained in the confidential
offering memorandum and the limited partnership agreement or similar constitutional documents of each
Fund as well as any side letters or similar agreements entered into between certain Fund investors and the
applicable Funds (collectively, “Governing Agreements”). Onex Corporation is, directly or indirectly, the
largest investor in each of the ONCAP Funds and from time to time also co-invests in their transactions.
Additionally, ONCAP investment professionals and other executives typically invest in or alongside the
ONCAP Funds. Other qualified individuals who are not employees of Onex, but who have pre-existing
business relationships with Onex or industry expertise in the sector in which a Fund may be investing, may
also invest in or alongside the Funds.
The Manager’s services include investigating, analyzing, structuring and negotiating and committing to
potential operating company investments (“Operating Company Investments”) on behalf of the Funds,
managing and monitoring the performance of those operating companies (each, an “Operating Company”)
and advising the Funds as to disposition opportunities.
As of December 31, 2023, the Manager had approximately $2,921,000,000 in assets under management.
All assets are managed on a discretionary basis.
Persons reviewing this Form ADV Part 2A should not construe this as an offering of any of the ONCAP
Funds described herein.