OREANDA-NEWS. Onex Corporation ("Onex") (TSX: OCX) announced today that Stephen Baker will join the Onex Credit Partners, LLC ("Onex Credit") team as it establishes a London office to expand the platform to Europe. Initially, the platform will focus on placement of European CLOs.

Onex Credit manages approximately USD 4.7 billion through several debt strategies. Recently, Onex Credit completed its largest CLO to-date, offering approximately USD 1 billion in securities and loans in a private placement transaction believed to be the first broadly syndicated U.S. dollar CLO structured to comply with European risk retention requirements.

"We are delighted to have Steve join our team," said Michael Gelblat, Onex Credit's Chief Executive Officer and Chief Investment Officer. "Steve brings more than 35 years of experience in credit and corporate finance. He will be a valuable addition as we leverage the successful model we've built in the United States and expand into the European market."

Prior to joining Onex Credit, Mr. Baker was based in London as a Senior Portfolio Manager with CQS, where he grew the firm's leveraged credit business to USD 2 billion in less than two years. Mr. Baker has also held senior leadership roles in leveraged credit, syndications and corporate finance with Scotia Capital, Bank of America, Barclays and Canadian Imperial Bank of Commerce.

"Both Onex and Onex Credit have strong track records of creating great value for their investors," said Mr. Baker. "I'm thrilled to be joining such a reputable team as they expand their credit business into Europe."