Onex reports US$129M first-quarter profit, down from US$168M a year ago

The Onex Corporation logo is displayed at the company's annual general meeting in Toronto. (Nathan Denette /The Canadian Press)

TORONTO — Onex Corp. reported a first-quarter profit of US$129 million, down from US$168 million a year ago.

The private equity firm, which keeps its books in U.S. dollars, says the profit amounted to US$1.76 per diluted share for the quarter ended March 31.

The result was down from US$2.36 per diluted share in the same quarter last year.

Onex said it had about US$9.39 billion in investing capital at March 31, up from US$8.66 billion at Dec. 31, 2025.

Earlier this year, Onex completed its deal to buy Convex Group Ltd., a specialty property and casualty insurance and reinsurance business, in partnership with American International Group Inc.

Onex chief executive Bobby Le Blanc said Convex delivered another strong quarter of underwriting profitability and net income and remains well positioned for continued growth in 2026.

This report by The Canadian Press was first published May 15, 2026.