Onex has raised $1.6bn for a continuation fund that allows the firm to retain three portfolio companies as it prepares to return to the fundraising market, according to a report by Bloomberg citing people familiar with the matter.
The transaction transfers PowerSchool, Sedgwick, and Fidelity Building Services Group from older Onex funds into the new vehicle. The continuation fund is backed by Neuberger Berman, Apollo Global Management’s S3 unit, Singapore’s GIC, and StepStone Group. Jefferies ac...
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