Onex Corp, one of Canada's biggest private equity firms, reported a profit for the first quarter, and the company's CEO said he was beginning to see signs of an end to the current takeover seller's market."We've been in the thick of a seller's market for some time. And as in any seller's market, the other side of the coin is it's tough to be a value buyer," Gerry Schwartz, the company's founder and chief executive, said on a conference call. "We're beginning to see some reasons to believe a shift might occur before too long."The company, which routinely buys and sells assets, has been more active on the selling side of late, taking advantage of high demand as yield-hungry investors prop up the credit market.In April, Onex and the Canada Pension Plan Investment Board said they would sell industrial conglomerate Gates Corp to private equity firm Blackstone Group LP for $5.4 billion.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.21% or $0.06/share to $29.13. In the past year, the shares have traded as low as $19.15 and as high as $35.39. On average, 5960820 shares of BX exchange hands on a given day and today's volume is recorded at 2105391.
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