<p>ONEX Corporation（(TSE:ONEX)）已举行其第三季度财报电话会议。请继续阅读会议的主要亮点。</p>
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<p>ONEX Corporation 最近的财报电话会议强调了一项战略转型，标志着收购 Convex 和与 AIG 的合作，为长期增长奠定了基础。整体情绪大体积极，受益于信贷部门的优异表现和成功的私募股权实现，尽管也提到了一些挑战，如 Onex Partners IV 的损失和收购后流动性紧缩。</p>
<h2>收购 Convex</h2>
<p>Onex Corporation 通过收购 Convex 63% 的股份，迈出了重要一步，Convex 是一家知名的保险机构。这一战略举措旨在提升长期股东价值，自 2022 年以来，Convex 的毛保费年增长率达到了 22%。预计此次收购将稳步改善盈利能力，使 Onex 能够利用其在保险领域的专业知识。</p>
<h2>与 AIG 的战略合作</h2>
<p>AIG 对 Onex 的私募股权和信贷基金承诺投资 20 亿美元，强烈支持 Onex 的战略方向。这一合作预计将为 Onex 带来额外 1500 万至 2000 万美元的费用相关收益，预示着未来合作的潜力，并增强 Onex 的财务表现。</p>
<h2>信贷部门的优异表现</h2>
<p>Onex 的信贷部门超出预期，成功定价 22 笔 CLO 交易，并筹集或延长了 107 亿美元的费用生成资产。这一表现突显了费用相关收益的强劲轨迹，彰显了 Onex 信贷业务的实力。</p>
<h2>成功的私募股权实现</h2>
<p>Onex Partners 通过出售其在 OneDigital 的 55% 投资和以溢价出售其在 WestJet 的 25% 股份取得了显著成功。这些交易为 Onex Partners V 带来了 0.7 倍的强劲 DPI，展示了 Onex 私募股权策略的有效性。</p>
<h2>Onex Partners IV 的损失</h2>
<p>尽管其他私募股权基金获得了收益，Onex Partners IV 却录得损失，抵消了一部分积极回报。这一挑战突显了私募股权投资的固有风险，尽管这并未掩盖财报电话会议的整体积极情绪。</p>
<h2>收购后流动性有限</h2>
<p>在收购 Convex 后，Onex 预计将拥有 5 亿美元的流动性。虽然这被认为是足够的，但在短期内被视为紧张，可能对公司的财务灵活性构成挑战。</p>
<h2>前瞻性指导</h2>
<p>Onex 领导层的前瞻性指导强调收购 Convex 和与 AIG 的合作是提升股东价值的关键。Convex 的显著增长和 AIG 的财务承诺预计将推动 Onex 净资产值的扩张，并支持向更轻资本模式的转变。公司有望在 2025 年以积极的财务状况结束，费用相关收益强劲。</p>
<p>总之，ONEX Corporation 的财报电话会议反映出积极的战略转变，重要举措包括收购 Convex 和与 AIG 的合作。尽管面临 Onex Partners IV 的损失和流动性紧缩等挑战，但整体情绪依然乐观，期待长期增长和提升股东价值。</p>

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<p>ONEX Corporation 第三季度的财报电话会议强调了通过收购 Convex 63% 的股份和与 AIG 达成 20 亿美元的合作伙伴关系进行的战略转型。信贷部门的表现超出预期，资产增加了 107 亿美元，而尽管 Onex Partners IV 亏损，私募股权的实现仍然强劲。公司预计收购后将有 5 亿美元的流动性，这虽然紧张但可控。总体而言，情绪积极，预计这些战略举措将推动长期增长和提升股东价值</p>

<p>ONEX Corporation ((TSE:ONEX)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>ONEX Corporation（(TSE:ONEX)）已举行其第三季度财报电话会议。请继续阅读会议的主要亮点。</p>
</div><h3>Meet Your ETF AI Analyst</h3>
<div class="lb-trans"><h3>认识您的 ETF AI 分析师</h3>
</div><ul>
<li>Discover how TipRanks' <em>ETF</em> AI Analyst can help you make smarter investment decisions</li>
<li>Explore ETFs TipRanks' users love and see what insights the <strong><em>ETF</em> AI Analyst</strong> reveals about the ones you follow.</li>
</ul>
<div class="lb-trans"><ul>
<li>了解 TipRanks 的_ETF_ AI 分析师如何帮助您做出更明智的投资决策</li>
<li>探索 TipRanks 用户喜爱的 ETF，并查看 <strong><em>ETF</em> AI 分析师</strong> 对您关注的 ETF 所揭示的见解。</li>
</ul>
</div><p>ONEX Corporation’s recent earnings call highlighted a strategic transformation, marked by the acquisition of Convex and a partnership with AIG, setting the stage for long-term growth. The sentiment was largely positive, driven by the credit segment’s outperformance and successful private equity realizations, although challenges such as losses in Onex Partners IV and tighter liquidity post-acquisition were noted.</p>
<div class="lb-trans"><p>ONEX Corporation 最近的财报电话会议强调了一项战略转型，标志着收购 Convex 和与 AIG 的合作，为长期增长奠定了基础。整体情绪大体积极，受益于信贷部门的优异表现和成功的私募股权实现，尽管也提到了一些挑战，如 Onex Partners IV 的损失和收购后流动性紧缩。</p>
</div><h2>Acquisition of Convex</h2>
<div class="lb-trans"><h2>收购 Convex</h2>
</div><p>Onex Corporation has taken a significant step by acquiring a 63% stake in Convex, a prominent insurance organization. This strategic move is aimed at enhancing long-term shareholder value, with Convex showing a remarkable 22% annual growth in gross written premium since 2022. The acquisition is expected to improve profitability steadily, positioning Onex to leverage its expertise in the insurance sector.</p>
<div class="lb-trans"><p>Onex Corporation 通过收购 Convex 63% 的股份，迈出了重要一步，Convex 是一家知名的保险机构。这一战略举措旨在提升长期股东价值，自 2022 年以来，Convex 的毛保费年增长率达到了 22%。预计此次收购将稳步改善盈利能力，使 Onex 能够利用其在保险领域的专业知识。</p>
</div><h2>Strategic Partnership with AIG</h2>
<div class="lb-trans"><h2>与 AIG 的战略合作</h2>
</div><p>AIG’s commitment of $2 billion to Onex’s private equity and credit funds is a strong endorsement of Onex’s strategic direction. This partnership is anticipated to contribute an additional $15 million to $20 million in fee-related earnings, signaling potential for future collaborations and bolstering Onex’s financial performance.</p>
<div class="lb-trans"><p>AIG 对 Onex 的私募股权和信贷基金承诺投资 20 亿美元，强烈支持 Onex 的战略方向。这一合作预计将为 Onex 带来额外 1500 万至 2000 万美元的费用相关收益，预示着未来合作的潜力，并增强 Onex 的财务表现。</p>
</div><h2>Credit Segment Outperformance</h2>
<div class="lb-trans"><h2>信贷部门的优异表现</h2>
</div><p>The credit segment of Onex exceeded expectations by pricing 22 CLO transactions and raising or extending $10.7 billion in fee-generating assets. This performance highlights a robust trajectory in fee-related earnings, underscoring the strength of Onex’s credit operations.</p>
<div class="lb-trans"><p>Onex 的信贷部门超出预期，成功定价 22 笔 CLO 交易，并筹集或延长了 107 亿美元的费用生成资产。这一表现突显了费用相关收益的强劲轨迹，彰显了 Onex 信贷业务的实力。</p>
</div><h2>Successful Private Equity Realizations</h2>
<div class="lb-trans"><h2>成功的私募股权实现</h2>
</div><p>Onex Partners achieved notable success with the sale of 55% of its investment in OneDigital and a premium sale of its 25% stake in WestJet. These transactions contributed to a strong DPI of 0.7x for Onex Partners V, showcasing the effectiveness of Onex’s private equity strategies.</p>
<div class="lb-trans"><p>Onex Partners 通过出售其在 OneDigital 的 55% 投资和以溢价出售其在 WestJet 的 25% 股份取得了显著成功。这些交易为 Onex Partners V 带来了 0.7 倍的强劲 DPI，展示了 Onex 私募股权策略的有效性。</p>
</div><h2>Losses in Onex Partners IV</h2>
<div class="lb-trans"><h2>Onex Partners IV 的损失</h2>
</div><p>Despite gains in other private equity funds, Onex Partners IV recorded losses, which offset some of the positive returns. This challenge highlights the inherent risks in private equity investments, although it does not overshadow the overall positive sentiment of the earnings call.</p>
<div class="lb-trans"><p>尽管其他私募股权基金获得了收益，Onex Partners IV 却录得损失，抵消了一部分积极回报。这一挑战突显了私募股权投资的固有风险，尽管这并未掩盖财报电话会议的整体积极情绪。</p>
</div><h2>Limited Liquidity Post Acquisition</h2>
<div class="lb-trans"><h2>收购后流动性有限</h2>
</div><p>Following the acquisition of Convex, Onex anticipates having $500 million in liquidity. While this is deemed sufficient, it is considered tight in the near term, posing a potential challenge for the company’s financial flexibility.</p>
<div class="lb-trans"><p>在收购 Convex 后，Onex 预计将拥有 5 亿美元的流动性。虽然这被认为是足够的，但在短期内被视为紧张，可能对公司的财务灵活性构成挑战。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>The forward-looking guidance from Onex’s leadership emphasized the strategic acquisition of Convex and the partnership with AIG as pivotal for enhancing shareholder value. Convex’s impressive growth and AIG’s financial commitment are expected to drive Onex’s net asset value expansion and support a shift towards a more capital-light model. The company is poised to exit 2025 on a positive financial note, with strong fee-related earnings.</p>
<div class="lb-trans"><p>Onex 领导层的前瞻性指导强调收购 Convex 和与 AIG 的合作是提升股东价值的关键。Convex 的显著增长和 AIG 的财务承诺预计将推动 Onex 净资产值的扩张，并支持向更轻资本模式的转变。公司有望在 2025 年以积极的财务状况结束，费用相关收益强劲。</p>
</div><p>In conclusion, ONEX Corporation’s earnings call reflects a positive strategic shift with significant moves such as the acquisition of Convex and partnership with AIG. While there are challenges like losses in Onex Partners IV and tighter liquidity, the overall sentiment remains optimistic, with expectations of long-term growth and enhanced shareholder value.</p>
<div class="lb-trans"><p>总之，ONEX Corporation 的财报电话会议反映出积极的战略转变，重要举措包括收购 Convex 和与 AIG 的合作。尽管面临 Onex Partners IV 的损失和流动性紧缩等挑战，但整体情绪依然乐观，期待长期增长和提升股东价值。</p>
</div>

ONEX 财报电话会议：战略举措与增长前景