Onex’s Private Equity Unit Drives Gain in Quarterly Earnings (1)

Onex Corp. earned $602 million in the third quarter, up 20% from a year earlier, as its private equity group generated strong returns and the pace of dealmaking picked up.

The firm’s private equity investments brought in returns of 11% in the quarter and were up 25% in the first nine months of the year on a gross basis, Onex said Friday. The company’s private equity unit received $3 billion from asset sales and distributions this year through October and deployed $2.7 billion of capital. Both figures are higher than for all of 2020.

“It was a very active quarter ...