Onex putting cash to work in slumping market

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 92%

Business News News

Business Business Latest News,Business Business Headlines

The Toronto-based private equity pioneer saw the value of its portfolio of businesses fall 3% in the latest quarter reflecting ‘global macroeconomic factors’

lost US$184-million in the most recent quarter as the slump in equity markets eroded the value of the asset manager’s stakes in public companies.

“Onex continues to deliver solid performance and execute on its strategic plan in the face of a challenging environment,” said Gerry Schwartz, Onex’s founder and chief executive in a press release. He said: “Onex is a strong and stable partner, especially in times of change and challenge, allowing us to create long-term value for our stakeholders.”

Onex’s portfolio includes WestJet Airlines Ltd., acquired in 2019, just ahead of the COVID-19 pandemic. Onex reports WestJet’s financial results as one of 10 businesses in its industrial portfolio. The value of the portfolio fell by 4 per cent to in the most recent quarter; year-to-date, the value of these 10 companies is up by 7 per cent.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What advisors are doing (or not doing) with their own portfolios in this bear marketFour advisors break down how the bear market has changed, or not changed, their investment
Source: OttawaCitizen - 🏆 21. / 68 Read more »

What advisors are doing (or not doing) with their own portfolios in this bear marketFour advisors break down how the bear market has changed, or not changed, their investment
Source: calgaryherald - 🏆 64. / 52 Read more »

What advisors are doing (or not doing) with their own portfolios in this bear marketFour advisors break down how the bear market has changed, or not changed, their investment
Source: nationalpost - 🏆 10. / 80 Read more »

What advisors are doing (or not doing) with their own portfolios in this bear marketFour advisors break down how the bear market has changed, or not changed, their investment
Source: VancouverSun - 🏆 49. / 61 Read more »