Onex Corporation has hired Walt Jackson, the former chief operating officer of the private credit group at Goldman Sachs’ merchant banking division, to establish a direct lending platform.
The new platform will make non-investment grade loans to middle-market and larger businesses. “Direct lending is a natural extension of our business and further leverages our credit team and established infrastructure,” said Michael Gelblat, Onex Credit’s Chief Executive Officer and Chief Investment Officer. “Walt is ideally suited to help us expand into direct lending. He has a long track record of successful credit investing and extensive knowledge of leveraged loan markets.”
Onex makes private equity investments through the Onex Partners and the ONCAP families of funds and has more than $22 billion of assets under management. Onex Credit manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Onex Credit team has over 25 professionals and is based just outside of New York in Englewood Cliffs, NJ.
Mr. Jackson’s background includes thirty years of experience in the leveraged loan, high-yield and mezzanine markets most recently at Goldman Sachs’ merchant banking division which makes senior and mezzanine loans to corporate borrowers. “Joining Onex is a unique opportunity for me. We have a like-minded approach to investing and risk management,” said Mr. Jackson. “Onex’s track record and more than 30 years of investing experience makes it well-positioned to provide much needed credit to middle-market and larger private companies. I look forward to working with the Onex team to continue to expand its credit platform.”
Onex has approximately $22 billion of assets under management, including $6 billion of Onex proprietary capital. The group is based in Toronto with additional offices in New York, New Jersey and London (www.onex.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-7-16
