Jack Yang is moving briskly to expand the hedge fund business of Canada’s largest private equity firm.The former partner and business development chief at Texas hedge fund Highland Capital Management was recently hired as the managing partner of Onex Credit Partners, the credit-focused hedge fund unit of $12 billion Toronto private equity group Onex Corporation, which is sometimes referred to as the “KKR of Canada.”Less than a month into his new role, Yang is searching for Manhattan office space, hiring the unit’s first marketers, and considering additional funds for the existing strategies.“The point is to develop the firm into a larger, institutional-quality manager,” said Yang over lunch...