Deliver Your News to the World

Onex Credit Partners Launches European Platform

Hires Industry Veteran Stephen Baker

All amounts in U.S. dollars unless otherwise stated

Toronto – WEBWIRE

Onex Corporation (“Onex”) (TSX: OCX) announced that Stephen Baker will join the Onex Credit Partners, LLC (“Onex Credit”) team as it establishes a London office to expand the platform to Europe. Initially, the platform will focus on placement of European CLOs.

Onex Credit manages approximately $4.7 billion through several debt strategies. Recently, Onex Credit completed its largest CLO to-date, offering approximately $1 billion in securities and loans in a private placement transaction believed to be the first broadly syndicated U.S. dollar CLO structured to comply with European risk retention requirements.

“We are delighted to have Steve join our team,” said Michael Gelblat, Onex Credit’s Chief Executive Officer and Chief Investment Officer. “Steve brings more than 35 years of experience in credit and corporate finance. He will be a valuable addition as we leverage the successful model we’ve built in the United States and expand into the European market.”

Prior to joining Onex Credit, Mr. Baker was based in London as a Senior Portfolio Manager with CQS, where he grew the firm’s leveraged credit business to $2 billion in less than two years. Mr. Baker has also held senior leadership roles in leveraged credit, syndications and corporate finance with Scotia Capital, Bank of America, Barclays and Canadian Imperial Bank of Commerce.

“Both Onex and Onex Credit have strong track records of creating great value for their investors,” said Mr. Baker. “I’m thrilled to be joining such a reputable team as they expand their credit business into Europe.”

About Onex

With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit Partners, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Company has approximately $22 billion of assets under management, including $6 billion of Onex capital, in private equity and credit securities. Onex invests its capital directly and as the largest limited partner in each of its Funds.

At August 31, 2014, Onex’ businesses had assets of $31 billion, generated annual revenues of $24 billion and employed approximately 200,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at The Company’s security filings can also be accessed at

This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.


This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.