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Adviser Profile

As of Date 11/21/2024
Adviser Type - Large advisory firm
Number of Employees 66 -5.71%
of those in investment advisory functions 37
Registration SEC, Approved, 01/30/2006
AUM* 18,259,617,233 16.08%
of that, discretionary 18,259,617,233 16.08%
Private Fund GAV* 18,172,473,512 16.93%
Avg Account Size 331,993,041 -0.80%
SMA’s No
Private Funds 45 6
Contact Info (20 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
16B 13B 11B 9B 7B 4B 2B
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count8 GAV$2,835,884,718
Fund TypeSecuritized Asset Fund Count34 GAV$15,143,941,064
Fund TypeOther Private Fund Count3 GAV$192,647,730

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Brochure Summary

Overview

Onex Credit Partners, LLC is an investment adviser with its principal place of business in Englewood Cliffs, New Jersey. Onex Credit Partners, LLC was registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) on January 30, 2006 and commenced operations as an investment adviser on January 1, 2006. Onex Credit Partners, LLC’s affiliates, Onex Credit Partners Europe LLP and Onex Credit Management LLC d/b/a Onex Credit (“OCM”), act as relying advisers and operate with Onex Credit Partners, LLC as a single advisory business. Onex Credit Partners, LLC, Onex Credit Partners Europe LLP and OCM are jointly referred to herein as “Onex Credit”. Onex Credit is a subsidiary of Onex Corporation, a public company based in Canada, which 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 and the establishment of Onex Credit. Onex Corporation is listed on the Toronto Stock Exchange, and Gerald W. Schwartz, its founder and Chairman, is the company’s controlling shareholder. Onex Credit serves as an investment manager of and offers advisory services on a discretionary basis to its clients, which are pooled investment vehicles and managed accounts intended for sophisticated investors and institutional investors and structured debt vehicles consisting of collateralized loan obligations (“CLOs”), including the following: OCP AEGIS CLO 2023-29, LTD., OCP CLO 2013-4, LTD, OCP CLO 2014-5, LTD, OCP CLO 2014-6, LTD, OCP CLO 2014-7, LTD, OCP CLO 2015-9, LTD, OCP CLO 2015-10, LTD, OCP CLO 2016-11, LTD, OCP CLO 2016-12, LTD, OCP CLO 2017- 13, LTD, OCP CLO 2017-14, LTD, OCP CLO 2018-15, LTD, OCP CLO 2019-16, LTD, OCP CLO 2019-17, LTD, OCP CLO 2020-18, LTD, OCP CLO 2020-19, LTD, OCP CLO 2020-20, LTD, OCP CLO 2020-8R, LTD, OCP CLO 2021-21, LTD, OCP CLO 2021-22, LTD, OCP CLO 2022-24, LTD, OCP CLO 2022-25, LTD, OCP CLO 2023-26, LTD., OCP CLO 2023-28, LTD., OCP EURO CLO 2017- 1 DESIGNATED ACTIVITY COMPANY, OCP EURO CLO 2017-2 DESIGNATED ACTIVITY COMPANY, OCP EURO CLO 2019-3 DESIGNATED ACTIVITY COMPANY, OCP EURO CLO 2020-4 DESIGNATED ACTIVITY COMPANY, OCP EURO CLO 2022-5 DESIGNATED ACTIVITY COMPANY, OCP EURO CLO 2022-6 DESIGNATED ACTIVITY COMPANY, OCP EURO CLO 2023-8 DESIGNATED ACTIVITY COMPANY, OCPE CLO 2023-7 DESIGNATED ACTIVITY COMPANY, OCS Dynacast, LP, Onex Capital Solutions (Luxembourg), SCSp, Onex Capital Solutions (Luxembourg) Feeder, SCSp, Onex Capital Solutions, LP, Onex Credit Lending Partners I, LP, Onex Senior Credit Fund, L.P., Onex Senior Credit Partners, LP, Onex Senior Credit Fund International, LTD, Onex Senior Credit II, LP, Onex Credit High Yield Bond Fund, LP, Onex Credit High Yield Bond Fund (Offshore Feeder), LLC, Onex Credit High Yield Bond Fund (Onshore Feeder), LP, Onex Credit HY, LP, Onex Credit Proprietary Fund, Onex Evergreen Credit Master Fund, L.P. – Onex MPD SMA Series 2022- 1, Onex Evergreen Credit Feeder Fund, L.P. – Onex MPD SMA Series 2022-1, Onex Structured Credit Opportunities Fund I, LP, Onex Structured Credit Opportunities International Fund I, LLC, Onex Structured Credit Opportunities Partners I, LP, OSD CLO 2021-23, LTD, OSD CLO 2023-27, LTD. (each a “Fund” and collectively, together with any future funds to which Onex Credit and/or its affiliates provide investment advisory services, the “Funds”). A related person of Onex Credit generally acts as general partner or manager of each Fund, and Onex Credit generally acts as investment adviser to each Fund. The following general partner and managing member entities are affiliated with Onex Credit: Onex Capital Solutions GP, LP, Onex Credit High Yield GP, LP, Onex Credit Lending Finance I Ltd, Onex Credit Partners GP, LLC, Onex Credit Solutions GP, L.P., Onex Credit Solutions Luxembourg GP, Onex Debt Opportunity Fund GP, LLC, Onex Evergreen Credit GP, L.P., Onex Senior Credit GP, LLC, and Onex Structured Credit Opportunities I GP, LP. Current and prospective investors in the Funds advised by Onex Credit should refer to the applicable confidential offering or private placement memorandum, limited partnership agreement or similar constitutional documents, investment management agreement, as well was any side letters or similar agreements entered into between certain Fund investors and the applicable Funds (the “Governing Documents”) of each Fund for complete information on the investment objectives, investment restrictions and risks applicable to such Fund. Onex Corporation and Onex Credit investment professionals and other executives invest in or alongside the Funds. Onex Credit provides advice to Fund accounts based on specific investment objectives and strategies. In connection with any potential managed accounts and pooled investment vehicles having a limited number of investors, Onex Credit may agree to tailor advisory services to the individual needs of clients. Onex Credit’s advisory services to the Funds are detailed in the Governing Documents and are further described below. Investors in the Funds (generally referred to herein as “investors” or “limited partners”) participate in such Fund’s overall investment program, but in certain circumstances are permitted to be excused from a particular investment due to legal, regulatory, or other applicable constraints; such arrangements generally do not and will not create an adviser-client relationship between Onex Credit and any investor. Onex Credit has entered into and could, in the future, enter into side letters or other writings with specific investors in our Funds which have the effect of establishing rights under, or altering or supplementing, the terms of the Governing Documents of the Funds or an investor’s subscription agreement in respect of the investor to whom such
letter or writing is addressed. Such rights or alterations could be regarding economic terms, fee structures, excuse rights, information rights, investment limitations, priority co-investment rights or targeted co-investment amounts, ability to transfer interests in a Fund, or compliance with specified laws or regulations. Generally, any rights established, or any terms altered or supplemented, will govern only that investor and not a Fund as a whole. Certain such additional rights but not all rights, terms or conditions may be elected by certain sizeable investors with “most favored nations” rights pursuant to a Fund’s Governing Documents. Such side letters may also impose restrictions on participation in certain investments or types of investments made by the Funds. Subject to applicable law and regulation, such agreements will be disclosed only to those actual or potential investors in a Fund that have separately negotiated with the general partner of such Fund for the right to review such agreements. Additionally, as permitted by the Governing Documents, Onex Credit expects to provide (or agree to provide) investment or co-investment opportunities (including the opportunity to participate in co-invest vehicles) to certain current or prospective investors or other persons (including investors or clients of Onex Corporation or its affiliates), including other sponsors, market participants, finders, consultants and other service providers, borrower management or personnel, Onex personnel and/or certain other persons associated with Onex Credit and/or its affiliates. Such co-investments typically involve investment and disposal of interests in the applicable borrower at the same time and on the same terms as the Fund making the investment. Therefore, Onex Credit expects to serve as the investment manager to co- investment vehicles to participate in Fund investments on a side-by-side basis with a Fund. Onex Credit may also organize one or more co-investment funds to co-invest alongside the Funds to facilitate personal investments by such persons or firms and by partners, officers and personnel and their related parties and associates of Onex Credit or of control entities. Onex Credit has and could, in the future, also facilitate co-investments directly into a borrower. The information provided above about the investment advisory services provided by Onex Credit is qualified in its entirety by reference to the Funds’ offering materials and other Governing Documents. Onex Credit does not participate in any wrap-fee programs. Onex Credit had approximately $18,260 million of regulatory assets under management as of December 31, 2023. All assets are managed on a discretionary basis. Onex Credit currently manages the following strategies: Structured Credit: Onex Credit’s structured strategy seeks to generate attractive risk-adjusted returns with downside protection, and current income across the entire collateralized loan obligation (“CLO”) capital structure. Different strategies typically focus on the equity and junior tranches, mezzanine and senior investment grade rated tranches. Onex’ structured credit team targets investment opportunities in CLOs, CBOs, Significant Risk Transfer and related structured transactions. Complexity and higher barriers can help to create premium economics. CLOs: Onex Credit manages CLOs, which are vehicles backed by actively managed, diversified portfolios of senior secured corporate loans in the U.S. and Europe. They offer the ability to provide different risk-reward profiles by rated tranche, or via the junior tranches and equity. Onex has been a regular issuer in the CLO market since the platform launched in 2012, and has issued a total of 38 U.S. and European CLOs. Sub-Investment Grade Liquid Credit Strategy: Through Onex Credit’s Sub-Investment Grade Liquid Credit business, Onex Credit manages a High Yield strategy and a Senior Credit strategy. The High Yield strategy is focused primarily on investing in bonds that are rated below investment grade. This strategy seeks to generate attractive risk-adjusted returns that outperform the ICE BoAML US HY Index (J0AO) through a full credit cycle. The strategy aims to preserve capital by avoiding credit defaults and dampening volatility by dynamic positioning in response to market conditions. Senior Credit is a long only strategy focused primarily on first-lien, senior secured debt obligations of North American borrowers in the broadly syndicated leveraged loan market. The strategy employs a fundamental, bottom-up credit selection process designed to deliver high income while minimizing credit default loss and interest rate risks and can be deployed both with and without the use of leverage. Tactical Allocation: This strategy is an all-weather mandate to tactically invest across the entire Onex Credit platform, from private to public credit. The broad range of potential opportunities in this strategy seeks to facilitate timely market access, including during periods of volatility. Opportunistic Credit Strategy: An opportunistic credit strategy that shifts between private / public secondary market opportunities. This strategy is unconstrained by ratings, asset class or liquidity. The strategy seeks to employ an active “drive-the-outcome” approach, rather than passive value investing. Target investments have downside protection, upside optionality and an identifiable path to deliver value. Direct Lending Strategy: Direct lending provides access to private first lien senior secured loans made to middle-market companies primarily in North America. The strategy seeks to deliver high current income while preserving principal through downside protections and high quality credit selection, driving favorable risk-adjusted returns. Onex Credit could manage one or more additional or adjacent strategies in the future.