Onex’s Le Blanc Sees Harder Fundraising in ‘Crowded’ Deal Market

Raising money for deals will become more challenging because the market is crowded with rivals seeking investors, Onex Corp. President Bobby Le Blanc said.

Onex will likely close fundraising for its sixth private equity vehicle in the first half of next year, he said. The effort started earlier this year. A previous fund closed in seven months.

“I do expect it to be a longer process,” Le Blanc said Friday on a conference call after Onex reported first-quarter earnings. “I do expect it to be more difficult than prior fund raisers.”

After gathering record sums in recent years, the industry ...