# EDGAR Filing Document

**Accession Number:** 0000937226
**File Stem:** 0001493152-26-006033
**Filing Date:** 2026-2
**Character Count:** 18658
**Document Hash:** c36ff7f291640dee16710011bd0e307d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-006033.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001493152-26-006033

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Onex Direct Lending BDC Fund
- **CENTRAL INDEX KEY:** 0001860424

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93864
- **FILM NUMBER:** 26618008

**BUSINESS ADDRESS:**
- **STREET 1:** 930 SYLVAN AVENUE
- **CITY:** ENGLEWOOD CLIFFS
- **STATE:** NJ
- **ZIP:** 07632
- **BUSINESS PHONE:** (201) 541-2121

**MAIL ADDRESS:**
- **STREET 1:** 930 SYLVAN AVENUE
- **CITY:** ENGLEWOOD CLIFFS
- **STATE:** NJ
- **ZIP:** 07632

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Onex Falcon Direct Lending BDC Fund
- **DATE OF NAME CHANGE:** 20210709

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Onex Falcon BDC Fund
- **DATE OF NAME CHANGE:** 20210504
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ONEX CORP
- **CENTRAL INDEX KEY:** 0000937226

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 161 BAY STREET
- **STREET 2:** SUITE 4900
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 1C4
- **BUSINESS PHONE:** 212-582-2211

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 161 BAY STREET
- **STREET 2:** SUITE 4900
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 1C4

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ONEX CORP ET AL
- **DATE OF NAME CHANGE:** 19950209

## Ex-1

**Exhibit 1**

**<u>SCHEDULE A</u>**

The name, business address, title, present principal occupation or employment of each of the directors and executive officers of Onex Corporation, Onex Partners V GP Limited and Onex Partners Canadian GP Inc. are set forth below. If no business address is given, the director's or executive officer's business address is 161 Bay Street, Toronto, ON M5J 2S1, Canada.

**<u>Onex Corporation</u>**

---

| | | |
|:---|:---|:---|
| **Name** | **Principal Occupation/Title** | **Citizenship** |
| Gerald W. Schwartz | Chairman of the Board, Director | Canada |
| Robert M. LeBlanc | Chief Executive Officer and President, Director | United States of America |
| Ewout R. Heersink | Vice Chair, Director | Canada |
| Lisa Carnoy | Director | United States of America |
| Mitchell Goldhar | Director | Canada |
| Sarabjit S. Marwah | Director | Canada |
| J. Robert S. Prichard | Director | Canada |
| Heather M. Reisman | Director | Canada |
| Robert Shanfield | Director | United States of America |
| Sara Wechter | Director | United States of America |
| Beth A. Wilkinson | Director | United States of America |
| Anthony Munk | Vice Chair | Canada |
| Christopher A. Govan | Chief Financial Officer | Canada |
| David Copeland | Managing Director – Taxation | Canada |
| Colin Sam | Managing Director – General Counsel and Corporate Secretary | Canada |
| Martin Mailloux | Managing Director – Finance | Canada |

---

**<u>Onex Partners Canadian GP Inc.</u>**

---

| | | |
|:---|:---|:---|
| **Name** | **Principal Occupation/Title** | **Citizenship** |
| David Copeland | Vice President, Director | Canada |
| Colin Sam | Vice President and Secretary, Director | Canada |
| Christopher A. Govan | President | Canada |
| Ewout R. Heersink | Vice President | Canada |

---

**<u>Onex Partners V GP Limited</u>**

---

| | | |
|:---|:---|:---|
| **Name** | **Principal Occupation/Title** | **Citizenship** |
| David Copeland | Director | Canada |
| Amir Motamedi | Director | Canada |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Onex Direct Lending BDC Fund**

*(Name of Issuer)*

**Common Shares of beneficial interest, par value $0.001 per share**

*(Title of Class of Securities)*

**000000000**

*(CUSIP Number)*

**Colin Sam**<br>c/o Onex Corporation<br>161 Bay Street P.O. Box 700<br>Toronto A6 M5J 2S1<br>1-416-362-7711

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**02/06/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **000000000** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Onex Corporation** | Name of reporting person<br>**Onex Corporation** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**ONTARIO** | Citizenship or place of organization<br>**ONTARIO** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**609508.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**609508.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**609508.00** | Aggregate amount beneficially owned by each reporting person<br>**609508.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.9%** | Percent of class represented by amount in Row (11)<br>**6.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **000000000** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Onex Credit Holdings LLC** | Name of reporting person<br>**Onex Credit Holdings LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**609508.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**609508.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**609508.00** | Aggregate amount beneficially owned by each reporting person<br>**609508.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.9%** | Percent of class represented by amount in Row (11)<br>**6.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **000000000** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Gerald W. Schwartz** | Name of reporting person<br>**Gerald W. Schwartz** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**ISRAEL** | Citizenship or place of organization<br>**ISRAEL** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**609508.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**609508.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**609508.00** | Aggregate amount beneficially owned by each reporting person<br>**609508.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.9%** | Percent of class represented by amount in Row (11)<br>**6.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **000000000** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Onex Partners V GP Ltd** | Name of reporting person<br>**Onex Partners V GP Ltd** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CAYMAN ISLANDS** | Citizenship or place of organization<br>**CAYMAN ISLANDS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **000000000** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Onex Partners Canadian GP Inc.** | Name of reporting person<br>**Onex Partners Canadian GP Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**ONTARIO** | Citizenship or place of organization<br>**ONTARIO** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Shares of beneficial interest, par value $0.001 per share

**(b) Name of Issuer:**
Onex Direct Lending BDC Fund

**(c) Address of Issuer's Principal Executive Offices:**
930 Sylvan Avenue, Englewood Cliffs, NJ, 07632

**Item 4. Purpose of Transaction**

Item 4 of this Schedule 13D is hereby amended and supplemented by the following.

REORGANIZATION

Following a reorganization on February 6, 2026 (the "Restructuring"), the investment funds indirectly controlled by Onex Partners V GP Limited and Onex Partners Canadian GP Inc. no longer beneficially own any securities of the Issuer. As a result, neither Onex Partners V GP Limited nor Onex Partners Canadian GP Inc. are deemed to beneficially own any securities of the Issuer following the Restructuring.

Further, following the Restructuring voting and investment decisions will be exercised independently with regard to the securities of the Issuer held of record by Convex Re Limited on the one hand and Onex Credit Holdings LLC on the other. Therefore, Convex Re Limited and Convex Group Limited will no longer jointly file a Schedule 13D with the Reporting Persons.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 of this Schedule 13D is hereby amended and restated by the following.

The information contained on the cover pages is incorporated by reference to this Item 5.

Onex Credit Holdings LLC, Onex Corporation and Mr. Gerald W. Schwartz may be deemed to share beneficial ownership of 609,508.33 common shares of beneficial interest, par value $0.001 per share (the "Common Shares"), representing 6.9% of the Common Shares outstanding, based on 8,859,835.14 Common Shares outstanding as of February 9, 2026, as disclosed on a Form 8-K filed by the Issuer on February 9, 2026.

**(b)**
The information contained on the cover pages is incorporated by reference to this Item 5.

Onex Credit Holdings LLC is the record holder of 609,508.33 Common Shares. Onex Corporation may be deemed to beneficially own the Common Shares held by Onex Credit Holdings LLC, through its ownership of all of the equity of Onex Credit Holdings LLC. Mr. Gerald W. Schwartz, the Chairman and Founder of Onex Corporation, indirectly owns shares representing a majority of the voting rights of the shares of Onex Corporation and as such may be deemed to beneficially own all of the Common Shares beneficially owned by Onex Corporation. Mr. Schwartz disclaims any such beneficial ownership.

**(c)**
Except as set forth in Item 4 of this Schedule 13D, none of the Reporting Persons has effected any transaction in the Common Shares in the past 60 days.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Onex Corporation

**Signature:** By: /s/ Christopher A. Govan

**Name/Title:** Christopher A. Govan, Chief Financial Officer

**Date:** 02/10/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Onex Credit Holdings LLC

**Signature:** By: /s/ Zachary Drozd

**Name/Title:** Zachary Drozd, Authorized Signatory

**Date:** 02/10/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Gerald W. Schwartz

**Signature:** By: /s/ Christopher A. Govan

**Name/Title:** Christopher A. Govan, attorney-in-fact for Gerald W. Schwartz

**Date:** 02/10/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Onex Partners V GP Ltd

**Signature:** By: /s/ David Copeland

**Name/Title:** David Copeland, Director

**Date:** 02/10/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Onex Partners Canadian GP Inc.

**Signature:** /s/ David Copeland

**Name/Title:** David Copeland, Vice President

**Date:** 02/10/2026