Onex hires Jack Yang for senior credit role

Former Highland Capital managing partner Jack Yang has joined private equity and hedge fund manager Onex, according to an announcement by the Canadian company. Yang becomes managing partner of Onex Credit Partners, a unit which manages $900 million through various credit strategies, including long-short, event-driven and market dislocation. This business is based in Englewood Cliffs in New Jersey.

Yang previously headed Highland Capital’s New York office and was the partner responsible for business development at the Dallas-based credit hedge fund and CLO manager. Before joining Highland in 2003, Yang worked for several years at Merrill Lynch.

Onex Credit Partners was set up in 2005 by Michael Gelblat and Stuart Kovensky, who had previously worked together in a distressed debt fund run by John A Levin Co.