TORONTO - Onex Corp. reported its fourth-quarter profit rose compared with a year ago, helped by gains in its private equity and credit investments.
The Toronto-based private equity manager, which keeps its books in U.S. dollars, says it earned a net profit of US$597 million or $6.61 per diluted share for the quarter ended Dec. 31.
The result compared with net earnings of US$187 million or $1.86 per diluted share in the fourth quarter of 2019.
Onex reported segment net earnings - which exclude certain items - of US$708 million or US$7.72 per diluted share for its fourth quarter, up from US$211 million or $2.04 per diluted share a year earlier.
Onex manages and invests money on behalf of its shareholders, institutional investors and high net worth clients.
It also owns wealth management firm Gluskin Sheff.