Onex has appointed Jack Yang as managing partner of Onex Credit Partners.
Onex Credit Partners specialises in managing credit-related investments, including event-driven, long/short, and market dislocation strategies.
Asset classes include bank loans, bonds, and distressed debt.
Established in November 2007, Onex Credit Partners manages approximately USD900m in assets in various products including separate accounts and an exchange-listed fund.
"Jack brings an extraordinary track record of building and managing world-class credit businesses," says Gerald Schwartz, Onex’ chairman and chief executive officer. "We have known Jack for several years, and are delighted to have him join the Onex Credit Partners’ management team. This reflects our commitment to further developing our credit investing platform, which is an excellent complement to our core private equity activities."
Yang was formerly the managing partner of Highland Capital Management. He joined the firm in 2003 to establish and lead its business development initiatives and head its New York office. He was a director of Highland Capital Management Europe and president of the firm’s affiliated broker dealer.
Prior to joining Highland, Yang spent eight years at Merrill Lynch in a number of capacities, most recently as managing director and global head of leveraged finance products within global debt markets. Prior to joining Merrill Lynch, Yang spent 11 years at Chemical Securities where he was a founding member of the leveraged buyout and syndicated finance groups.
"I am delighted to have the opportunity to work with the Onex and OCP teams to further build on the firm’s USD900m of assets under management," says Yang. "Onex is widely regarded as a best-in-class, value-oriented private equity firm, and Stuart Kovensky and Michael Gelblat have developed an impressive long-term track record as successful, disciplined investors. Onex Credit Partners combines the expertise and resources of a premier, investment management firm with the focus and energy of a specialist manager."