Early Life
Gerald W. Schwartz was born in Winnipeg, Manitoba, Canada, in 1941. His father, a pharmacist, later pursued business ventures with his brothers-in-law. Schwartz showed an early interest in business, influenced by his father, and was involved in entrepreneurial activities during his youth, including running a clothing shop and investing in a carpet store.
Rise to Success
Schwartz pursued higher education, earning a Bachelor of Commerce and a Bachelor of Laws from the University of Manitoba, followed by an MBA from Harvard Business School in 1970. He gained experience on Wall Street at Bear Stearns under the mentorship of Jerome Kohlberg, Jr.. In 1977, he co-founded CanWest Global Communications with Izzy Asper. However, his entrepreneurial spirit led him to establish Onex Corporation in 1983. Onex, founded in 1984, initially focused on private equity investments in North America. It evolved into a diversified private equity firm, and Schwartz served as CEO for many years until stepping down in 2023, but remaining as Chairman.
Key Business Strategies
Onex's investment strategy involved acquiring and restructuring businesses, with a focus on buyouts and long-term investments across various sectors, including healthcare, industrials, and technology. The firm expanded through strategic acquisitions and grew to manage substantial assets. Onex has been recognized as one of the most successful private equity firms.
Philanthropy
Schwartz and his wife, Heather Reisman, have been involved in significant philanthropic efforts. They have donated to Mount Sinai Hospital in Toronto, St. Francis Xavier University, and the University of Toronto. They co-founded the Heseg Foundation, which provides scholarships and support to former lone soldiers in the Israeli Defense Forces.