Onex Corporation promoted Bobby Le Blanc to president of Onex. Le Blanc will oversee all of Onex’s business units and become the sole head of Onex Partners, the firm’s flagship private equity strategy. Gerry Schwartz will remain chairman and CEO, with Le Blanc reporting to him.
“Having joined the firm more than 20 years ago, Bobby represents the best of Onex,” Schwartz said. “I am confident he will continue to be a positive force in our future success, and Onex, our shareholders and our partners will continue to benefit from his proven leadership.”
Le Blanc’s promotion is part of Onex’s broader long-term leadership plan. In the last five years, Onex’s assets under management have grown to more than $35 billion, including almost $20 billion from private equity. This growth has included the almost doubling of the credit business to $12 billion of AUM and the addition of wealth management through the acquisition of Gluskin Sheff in 2019.
As part of the leadership plan, Anthony Munk will become vice chairman of Onex, providing investment advice across the firm and particularly at Onex Partners, for which he will serve as chair of the investment committee.
Finally, Seth Mersky will step back from his broader role at Onex and become vice chairman of Gluskin Sheff. Mersky joined Onex in 1997.
Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high net worth clients. Onex’s platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, senior loan strategies and other private credit strategies; and Gluskin Sheff’s wealth management services, including its actively managed public equity and public credit funds. In total, Onex has approximately $35.6 billion of assets under management, of which approximately $6.6 billion is its own shareholder capital.