Credit Research Analyst (Associate/Senior Associate)
Onex
ABOUT ONEX:
Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex became a public company in 1987 and is listed on the Toronto Stock Exchange under the symbol ONEX. Onex’ two primary businesses are Private Equity and Credit.
In Private Equity, we raise funds from third-party investors and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms: Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, liquid credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices and high net-worth individuals. Onex has $51.1 billion in assets under management of which $8.3 billion is Onex’ own investing capital. We generate value for our shareholders through two segments: Investing and Asset Management.
ONEX CREDIT
Onex Credit has a long-standing track record of executing a disciplined approach to credit investing with a focus on capital preservation and achieving strong risk adjusted returns through credit cycles. Since joining Onex in 2007, the Onex Credit platform has grown its assets under management from approximately $300 million to approximately $25 billion as of December 31, 2024. With offices in New Jersey, New York, Toronto and London, Onex Credit’s business is focused on non-investment grade credit markets, including leveraged loans, leveraged loans, direct lending, high yield bonds and opportunistic lending strategies
The Opportunity:
To support our continued growth, we are seeking to recruit a Credit Research Analyst to join our US Credit Research team. This role involves conducting in-depth fundamental credit research on bond and loan issuers (public and private) across multiple industry verticals. As a Credit Research Analyst, you will provide investment recommendations and monitor existing positions across all strategies within our credit platform including, leveraged loans, structured credit, direct lending, high yield bonds and opportunistic lending. The role will be based in either New York or New Jersey.
What you will do:
- Conduct rigorous financial and credit analysis on issuers across assigned sectors, including building and maintaining financial models.
- Develop investment recommendations based on fundamental and relative value research on existing holdings and generate new investment ideas.
- Monitor portfolio holdings, sector developments, and quarterly earnings to assess creditworthiness and inform trading decisions.
- Participate in investment committee discussions and present well-defended investment theses
- Work with portfolio management and trading to recommend portfolio position sizing.
- Contribute to thematic research and sector outlooks to identify trends and help develop broad views of corporate credit and sector allocation.
What you bring:
- 3-5 years of experience in credit research or a related role; buy-side experience preferred.
- Exceptional quantitative and analytical skills, with proficiency in tools such as Excel, Bloomberg, Capital IQ, or FactSet.
- Strong communication and presentation abilities, with the confidence to articulate views to senior stakeholders.
- Commercial mindset with the ability to prioritize and manage multiple initiatives under tight deadlines.
- Independent, entrepreneurial thinker with high standards of integrity, confidentiality, and collaboration.
- Bachelor’s degree in finance, economics, accounting, or a related field; CFA designation is a plus.
Compensation
The anticipated annual base salary range for this position is $140,000 to $185,000. Base salary does not include other forms of compensation or benefits offered in connection with the advertised role. Employees may be eligible for a discretionary bonus, based on factors such as individual and company performance.
The compensation range for this role is specific to New York City and considers a wide range of factors including but not limited to the skill sets required/preferred; prior experience and training; licenses and/or certifications.
Our team & commitment:
Onex is led by the firm’s CEO, Bobby Le Blanc, as well as experienced leaders at each of our businesses. We have approximately 120 investment professionals across all platforms, supported by approximately 170 professionals dedicated to our corporate functions and investment platforms. Consistent with our One Onex approach, the teams share and leverage sector expertise, and sourcing and origination of opportunities across all business lines. Our culture is guided by our strong commitment to accountability, intellectual honesty and respect for all our partners and stakeholders.
Onex was formed on principles of entrepreneurialism and responsible investing and our team is united in recognizing the value of collaboration, diversity of perspective and background, and an inclusive environment. Our team is a critical factor in our success, and attracting and retaining the best people and strongest investors are an important competitive advantage.
Also crucial to our long-term success is the alignment of interests between the Onex management team, the Onex Board of Directors, shareholders and our limited partners. Members of our management team and Board of Directors have a significant long-term ownership in Onex shares and invest meaningfully in our funds. We believe this alignment creates stronger relationships with both our limited partners and shareholders.
Diversity Equity & Inclusion:
Onex recognizes that a diverse team and inclusive environment are vital in contributing to our continued success as an investor and asset manager. We believe that diverse perspectives create better business outcomes for us and our stakeholders, including the companies we invest in, our shareholders, investors and clients, as well as the communities we serve.
Onex’ commitment to diversity and inclusion includes increasing our focus on attracting and retaining employees from diverse backgrounds, creating additional awareness of diversity issues and benefits, fostering and inspiring a more supportive environment where inclusivity is expected and prioritized, and embedding accountability for diversity throughout the firm.
Onex’ Diversity & Inclusion Leadership Council, which is co-chaired by our CEO and our Head of Shareholder Relations and Communications, includes representation from across all business platforms and geographies. The Council is responsible for championing diversity and inclusion across the firm, including supporting the development and success of Onex’ employee resource groups.
Environmental, Social & Governance:
As a public company, we are committed to delivering value for all of our stakeholders – our shareholders, investors, employees, operating companies and the communities in which we operate. Responsible governance throughout Onex and across our platforms is fundamental to the success of our organization. We hold ourselves to the highest standards of good governance, which builds trust and confidence in our stewardship of capital.
Consistent with our long-held belief that responsible investing is both the right approach to investing, as well as a driver of meaningful stakeholder value, we continue to make enhancements to our environmental, social and governance (“ESG”) program. Recent initiatives include the addition of resources to our ESG team and progress on our efforts to measure carbon emissions across Onex and our investment platforms. To remain aligned with emerging best practices, we participate in several industry initiatives, including the ESG Data Convergence Initiative, Initiative Climat International (“iCI”), the Principles for Responsible Investment (“PRI”), the IFRS Sustainability Alliance and FCLT Global, among others. We expect our program to continue to expand in line with this rapidly evolving area, while remaining rooted in our founding principle of responsible investing.