Gluskin Sheff expands its alternative investment offering with
TORONTO, Oct. 01, 2021 (GLOBE NEWSWIRE) – Gluskin Sheff + Associates Inc. (âGluskin Sheffâ), the wealth management platform of Onex Corporation (âOnexâ) (TSX: ONEX), announced today hui the launch of the Onex Falcon Direct Lending Fund * (âthe Fundâ), a differentiated credit offering focused on capital preservation and downside protection through investments in senior secured loans issued directly.1 This new offer gives Canadian accredited individual investors access to an asset class favored by institutions and family offices.
The Fund will invest in high value senior secured private loans to lower middle market companies in North America, as well as selectively in European and non-North American companies. The Fund aims to offer a return of 9 to 10%2 net return including an expected cash distribution of 8%3 paid quarterly.
âAs investor needs continue to evolve, we are proud to be a part of Onex, which allows us to offer Gluskin Sheff clients access to creative and unique alternative investment solutions,â a said Jeff Moody, President and CEO of Gluskin Sheff. âBacked by an industry leader with a history of long-term success in this area, the Onex Falcon Direct Lending Fund offers our clients an attractive alternative offering to help them further diversify their portfolios, which is particularly attractive in the current environment of low interest rates. . “
The manager of the Fund, Onex Falcon, is led by a team of over 30 investment professionals and has a history of over 20 years. The Fund’s approach combines creative and flexible investment structures with the advantage of the broad sourcing of transactions from the Onex platform.
âOur team has a long history of creating value for our investors, with a focus on preserving capital and achieving strong risk-adjusted returns throughout credit cycles,â said Eric Rogoff, Managing Director and Area Manager for Onex Falcon. âWe are determined and proud of our accomplishments in delivering results suitable for investors seeking to improve the returns of their portfolios in the alternative credit market. “
The Fund’s accredited investors can benefit from:
- quarterly subscriptions
- regular income distributions, if desired
- diversification from investments in public markets
Based in the United States and acquired by Onex in December 2020, Onex Falcon is a private credit asset manager with more than two decades of experience providing specialized solutions to borrowing clients primarily in the United States and Canada.
Accredited investors wishing to learn more about the Fund or other offerings from Gluskin Sheff are invited to visit: www.gluskinsheff.com.
About Gluskin Sheff:
Since 1984, Gluskin Sheff has served the wealth management needs of high net worth individuals, families and institutions in Canada and the United States through unwavering attention to customer service coupled with exclusive investment solutions, including equities. public, fixed income and credit alternatives and private placements. credit. Toronto-based Gluskin Sheff manages approximately $ 8 billion in assets (as of June 30, 2021) and was acquired by Onex in 2019. For more information on Gluskin Sheff, please visit: www.gluskinsheff.com.
For more information:
Leah Commisso, Director, Corporate Communications
Phone. : 437-533-4457
Email: [email protected]
* The Fund is organized as an unincorporated open-ended investment trust.
1 Only âqualified investorsâ (within the meaning of Canadian securities laws) who are sophisticated investors may subscribe for units of the Fund. Prospective investors are advised to read the Fund’s offering memorandum before subscribing for units of the Fund.
2 For the quarters immediately following the fund’s launch, performance may fall below target levels as the Onex Falcon Direct Lending Fund ramps up. The net IRR reflects the gross IRR of all limited partners not affiliated with the general partner investing at the initial closing of each fund, less management fees, deferred interest and other expenses. The return targets are presented for comparison purposes only and as a guide to help potential investors assess the investment strategy of an investment vehicle and its implied risk / reward ratio. Targeted returns are subjective determinations made by Onex Falcon based on a variety of factors that Onex Falcon considers relevant, such as the historical performance of an investment vehicle’s anticipated investments, the past performance of vehicles and of similar strategies, measures of volatility, risk tolerance, leverage and the market. conditions. Target returns do not reflect actual past performance or a guarantee of future performance. There can be no assurance that the performance objective will be met or achieved over any particular time horizon. Potential investors are encouraged to exercise due diligence and ask questions about understanding the risks / rewards associated with investing in the Fund before purchasing units of the Fund.
3 Cash distributions may fall below target levels. Targeted cash distributions do not reflect actual past performance or a guarantee of future performance. There can be no assurance that the target cash distributions will be achieved, or achieved over any particular time horizon. Potential investors are encouraged to do due diligence and ask questions to understand the risks / rewards associated with investing in any strategy. Distributions from the Fund will be automatically reinvested; however, clients can choose to receive their distributions in cash.