Onex closes $500M structured credit fund on global investor demand

What's the deal? Canadian alternative asset manager OnexDealroom has a profile for this one. Try Dealroom → has raised $500m (£370.6m) at final close for its second opportunistic structured credit fund. The Onex Structured Credit Opportunities Fund II will invest globally in collateralised loan obligation (CLO) equity and debt tranches, the Toronto-based manager said.

What's the endgame? The structured credit opportunities platform is part of Onex's $32bn credit business, which spans direct lending and CLOs. Overall, Onex manages $56bn in assets across equity and credit strategies.

Why now? Ronnie JaberDealroom has a profile for this one. Try Dealroom →, head of Onex Credit, pointed to "strong global investor demand" for the strategy, which he said reflects "our team's performance and differentiated approach, while recognising the opportunities ahead in credit."

The signal: The close lands amid a run of large credit fundraises, from Manulife | Comvest Credit Partners' $5.4bn direct lending fund to Willow TreeDealroom has a profile for this one. Try Dealroom →'s $730m continuation vehicle. Investor appetite for structured and private credit shows little sign of cooling.

Read more: Alternative Credit Investor

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