Onex Partners Completes $1.6 Billion Continuation Vehicle Backed by Neuberger, GIC, Apollo S3 and StepStone (Fidelity, PowerSchool and Sedgwick)
April 9, 2026
Onex Partners announced the successful closing of a $1.6 billion multi-asset continuation vehicle that transferred interests in Fidelity Building Services Group, PowerSchool, and Sedgwick from Onex Partners’ prior funds into a newly formed vehicle. The new vehicle is backed by institutional investors including Neuberger, GIC, Apollo S3 and StepStone, providing liquidity and rollover options to existing limited partners.
- Buyers
- Neuberger, GIC, Apollo S3, StepStone, Onex Partners
- Targets
- Fidelity Building Services Group (Fidelity), PowerSchool, Sedgwick
- Sellers
- Onex Partners V, Onex Partners IV, Onex Partners III
- Industry
- IT Services
- Location
- Ontario, Canada
- Transaction Type
- Recapitalization
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