Daily Archives: May 13, 2014

Onex Corp. raises $5.5 billion for Onex Partners IV

Onex Corp., a private equity firm, announced the successful capital fundraising and closing of Onex Partners IV — a  $5.15 billion fund.

It’s the largest in Onex’s history, the firm said.

Onex surpassed its initial target of $4.5 billion and closed earlier than expected.

It raised capital commitments from limited partners, including public employee pension plans and sovereign wealth funds around the world, it said.

“In a highly competitive fundraising market, we are grateful for the strong support from both our existing limited partners and new investors, who have entrusted us with their capital,” Emma Thompson, head of the Funds Group for Onex, said in a statement.

Including this fund, Onex has about $21 billion of assets under management, it said.

Onex is the investment firm that bought Boeing’s commercial aircraft division in Wichita in 2005, which became Spirit AeroSystems, now a publicly-held company.

Onex also partnered with Goldman Sachs to buy the former Wichita-based Raytheon Aircraft Co., which became Hawker Beechcraft and then Beechcraft Corp.

Textron bought Beechcraft in March.

Allegiant Air resumes Wichita to Los Angeles service

Allegiant Air will resume seasonal nonstop service between Wichita and Los Angeles on June 4, the airport said.

The flights will operate two times a week on Wednesdays and Saturdays to Los Angeles International Airport.

The service will operate through Sept. 6.

United Airlines also offers service from to Los Angeles from Wichita.