The Globe and Mail reports in its Saturday edition that Onex posted a 4-per-cent increase in the value of its private equity portfolio in the third quarter, which ended Sept. 30. The Globe's James Bradshaw writes that the portfolio is now up 15 per cent over the past 12 months, and the value of Onex's credit portfolio increased 6 per cent in the quarter. Onex reported profit of $256-million, or $3.23 per share, compared with a $180-million loss, or $2.12 per share, in the same period last year (all figures U.S.). Distributable earnings, which are a metric used to show the share of company profits that could be paid out to shareholders, were $223-million, up 15.5 per cent year-over-year. Assets under management that generate fees were roughly unchanged from the second quarter at $34.2-billion. Onex plans to wind down the Onex Blair Franklin Global Credit Strategy, a fund with $1-billion of assets under management, as part of a broader exit from its private-wealth business. The fund was a holdover from Onex's ill-fated acquisition of Gluskin Sheff for $445-million in 2019. "We no longer see a viable future for this fund," chief executive officer Bobby Le Blanc said on a call Friday. Onex continues to cut costs.