Equity Research Co-op (US Equity) (Summer 2023)

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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, or limited partners, 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, public debt and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In addition, through our private wealth platform, we service high net worth clients in Canada.

Onex has $48.4 billion in assets under management (“AUM”), of which $33.5 billion is fee-generating and $7.9 billion is Onex’ own investing capital. We generate earnings for our shareholders through two segments: Investing and Asset Management. Our Investing segment includes gains on our invested capital. Our Asset Management segment generates revenues from the recurring fees clients pay us to manage their capital, and also includes carried interest realized from our private equity and private credit funds.

With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

THE OPPORTUNITY:

We are looking for students to join Gluskin Sheff and Onex Credit as an Equity Research Co-op in our Toronto office.  Successful applicants will have the opportunity to work with senior investment professionals, take on increasing amounts of responsibilities and actively engaged in the investment decision process.

WHAT YOU WILL DO:

  • Conduct differentiated fundamental analysis on public equities by assessing the viability of its business models, industry positioning, financial metrics, and portfolio strategy
  • Synthesize, communicate, and present investment ideas to Portfolio Managers and Analysts
  • Attend meetings with executive management teams and sell-side analysts as part of the due diligence process when evaluating investment ideas
  • Listen to earnings calls and monitor news relating to your coverage universe/companies
  • Build relative (comps and precedents) and intrinsic value models
  • Effectively use available research tools to support the investment process

WHAT YOU WILL BRING:

  • Passion for public markets investing demonstrated through extra-curricular involvement, past job experiences, and/or personal investing
  • Familiarity with Bloomberg is an asset
  • Equity research, investment banking, consulting, private equity, or other related experience is an asset
  • Excellent analytical capability, quantitative skills, and financial fluency
  • Financial modelling experience or strong understanding of accounting concepts
  • Ability to communicate effectively with investment professionals and build relationships across teams
  • Great attention to detail
  • Strong academic standing
  • Independent thinker and intellectually curious

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 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 President 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.

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