Onex’s Credit Unit Said to Raise $1 Billion CLO Fund With BofA

Onex Corp.’s credit investment group raised a $1 billion collateralized loan obligation, the largest fund raised in the U.S. this year, according to a person with knowledge of the deal.

The CLO for the credit group of Canada’s largest buyout firm surpasses an $838 million fund for Symphony Asset Management LLC, issued earlier this month, according to Royal Bank of Scotland Group Plc. The CLO for Onex Credit Partners LLC was arranged by Bank of America Corp., said the person, who asked not to be identified because the information isn’t public.