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Ex-Blackstone Director Plots 30% Growth at Onex via Private Debt

  • Toronto-based firm targets mid-market private lending, CLOs
  • Demand for private loans ‘is here to stay,’ New says
Jason New
Jason NewPhotographer: Amir Hamja/Bloomberg

Investors hunting for higher yields are once again shoveling record amounts of cash into private lending, catapulting the asset class to more than $1 trillion globally. Onex Corp. doesn’t see the demand fading any time soon.

In fact, the Canadian investment manager is counting on private lending to help drive growth at its $23 billion credit arm, according to Jason New, the division’s head. Private lenders soak up deals that banks won’t do as they retreat from riskier assets, and charge a premium for it.