Credit Veteran Jason New Shifting to Crypto After Onex Departure

Jason New, head of credit at Toronto-based investment firm Onex Corp. and a former senior Blackstone executive, will focus on cryptocurrency investing after he leaves his current role next year, according to people with knowledge of the decision.

New, 52, will team up on the investments with former King Street Capital executive Michael Abbate and Bitcoin mining firm Terawulf Inc. Chief Executive Offer Paul Prager, said the people, who asked not to be identified discussing private information.

The group is planning to invest personal capital initially. New is expected to join Terawulf’s board of directors later this year ...