The ONCAP funds focus on value-oriented, private equity opportunities in medium-sized businesses located in North America. Investments typically have an enterprise value of up to C$500 million.
was launched in 1999 with C$400 million of committed capital – C$120 million from Onex – and invested in six platform operating companies and completed 16 add-on acquisitions. The fund achieved a 43% gross IRR and 4.1x gross multiple of cost (33% net IRR; 3.1x net MOC) when it was fully realized in 2007.
was established in 2005 with C$574 million of committed capital, C$252 million of which came from Onex. To date, ONCAP II has invested C$483 million in eight platform operating companies and completed 88 add-on acquisitions.
was established in 2011 with capital commitments of C$800 million, of which C$252 million came from Onex. To date, ONCAP III has invested C$378 million in five platform operating companies and completed 11 add-on acquisitions.
to learn more about our return on invested capital.
The ONCAP team
has 17 professionals who are led by Michael Lay. The ONCAP team is supported by Onex' financial, legal, IR and tax professionals.