Onex Gets $735 Million for Smaller Buyout Fund as It Reboots (1)

Onex Corp. has gathered $735 million for a new short-term buyout fund, the latest move by the Canadian private equity firm to restart growth under a new chief executive officer.

Onex Partners Opportunities Fund will give its investment teams some capital to work with while the company gears up for a larger fundraising push for the next vintage of its flagship Onex Partners fund.

The new vehicle will invest mostly in “upper middle market” companies in North America and Europe, and is expected to be deployed relatively quickly — likely over 12 to 18 months, CEO Bobby Le Blanc ...