Onex Credit Co-CEO Kovensky Steps Down at Firm He Co-Founded (1)

Onex Credit’s Stuart Kovensky will step down as co-chief executive officer and chief investment officer after more than a decade at the firm specializing in high-yield investments.

Kovensky, whose departure from the posts is effective April 1, will stay on as a board member at the $17 billion credit management division of Onex Corp., the company confirmed to Bloomberg. Co-CEO Jason New will become head of credit as part of the transition, while Peter Zaltz will become chief investment officer.

Kovensky, a more than 30-year industry veteran, helped found the asset manager that in 2007 became Onex Credit. Based ...