Onex Credit’s Acquisition of Falcon Investment Advisors

Proskauer Rose LLP acted as legal counsel to Falcon, while Latham & Watkins LLP served as Onex Credit’s legal counsel on the deal.

Onex Corporation (TSX: ONEX), through Onex Credit, its wholly-owned subsidiary, has acquired Falcon Investment Advisors, LLC, a leading U.S. private credit manager, to expand its established credit platform and solidify its market position in tradeable, opportunistic and private credit.

Falcon provides private credit financing solutions and has US$3.8 billion of assets under management as of September 30, 2020. It employs an opportunistic approach to mezzanine and other direct lending investments for U.S. middle market companies. With this transaction, Onex Credit will have over $16 billion of alternative credit assets under management.

The Proskauer team who acted for Falcon featured Private Funds partner David Tegeler (Picture), with partner Steven Peck and associates Bryan Nance and  Elena Roeva (Private Equity;M&A), partner Galen Lewis and associates Luzia Vaczy, Andrew Mandelbaum and Frank Pustorino (Private Funds), partner Mary Kuusisto and associate Kim Swiszcz (Tax), partner Colleen Hart and associate Katrine Magas (Employee Benefits), and partners John Ingrassia, Joshua Newville and John Verwey (Regulatory).

Latham & Watkins LLP represented Onex Credit in the transaction with a corporate deal team led by Washington, D.C. partner Paul Sheridan and New York partner Alex Kelly, with associates Daniel Breslin and Ryan Zumwalt. Advice was also provided on investment funds matters by New York partner Matthew Chase, Chicago partner Nabil Sabki, and Chicago counsel Laura Ferrell; on tax matters by New York partners Lisa Watts and Gregory Hannibal, with associate Alan Kimball; and on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum.

Involved fees earner: Daniel Breslin – Latham & Watkins; Matthew Chase – Latham & Watkins; Alexandra Croswell Kelly – Latham & Watkins; Laura Ferrell – Latham & Watkins; Gregory Hannibal – Latham & Watkins; Adam Kestenbaum – Latham & Watkins; Alan Kimball – Latham & Watkins; Nabil Sabki – Latham & Watkins; Paul Sheridan Jr. – Latham & Watkins; Lisa Watts – Latham & Watkins; Ryan Zumwalt – Latham & Watkins; Kimberly Condoulis – Proskauer Rose LLP; Colleen Hart – Proskauer Rose LLP; John Ingrassia – Proskauer Rose LLP; Mary Kuusisto – Proskauer Rose LLP; Galen Lewis – Proskauer Rose LLP; Katrine Magas – Proskauer Rose LLP; Andrew Mandelbaum – Proskauer Rose LLP; Bryan Nance – Proskauer Rose LLP; Joshua Newville – Proskauer Rose LLP; Steven Peck – Proskauer Rose LLP; Frank Pustorino – Proskauer Rose LLP; Elena Roeva – Proskauer Rose LLP; David Tegeler – Proskauer Rose LLP; Luzia Vaczy – Proskauer Rose LLP; John Verwey – Proskauer Rose LLP;

Law Firms: Latham & Watkins; Proskauer Rose LLP;

Clients: Falcon Investment Advisors; Onex Corporation;

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Author: Ambrogio Visconti