Onex Credit Partners, LLC specializes in opportunistic, value investing in the debt of predominantly North American companies.
The Portfolio follows a long/short, event-driven strategy that focuses on actively traded senior debt investments in the non-investment grade debt markets and seeks to deliver attractive risk-adjusted returns while emphasizing the preservation of capital.
The Portfolio does not employ financial leverage1
Senior debt may include:
- Senior, secured loans that typically pay a floating rate of interest;
- Senior bonds; and
- Other senior debt obligations.
OCP generally targets investments that meet the following criteria:
- High levels of asset and/or cash flow coverage;
- Attractive total return potential through a combination of capital appreciation and/or current income; and
- An anticipated company-specific event that OCP believes will trigger an increase in the price of the investment.
Risk management strategies may be used to address credit, interest rate, and market risks. These may include, but are not limited to, diversification, intensive research, portfolio construction, as well as hedges and short exposure in the Portfolio. In addition, it is intended that the majority (and not less than 90%) of Portfolio investments denominated in foreign currencies will be hedged to the Canadian dollar.
(1) Financial leverage defined as long positions exceeding equity capital.