Onex – a capital management and investment firm with operations in New York, New Jersey, Toronto and London – reported a rebound in the second quarter ending on June 30.
“As expected, valuations for the quarter rebounded significantly,” Gerry Schwartz, company chairman and CEO said in a statement. “As important is the significant progress made within our operating companies to ensure they manage any challenges ahead and prosper as economies gradually improve. The quarter’s performance is further evidene of the strength and depth of the Onex team.”
The report also indicated a 12% increase for total shareholder capital per fully diluted share, reaching $67.11. Most of that increase was attributed to net increases in the firm’s private equity and credit investment activities.
The firm’s private equity investments had a 16% gross return for the quarter, offsetting some of the losses earlier in the year to arrive at a 4% loss for the first six months of 2020, according to the release. Onex Credit also increased the assets it is managing by approximately 5%, bringing the total to $12.2 billion.