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.
