Onex said in its first quarter results on Friday that it will stop raising its flagship private equity fund, Onex Partners VI, "until the fundraising environment improves."
In November, the alternative investment firm held a first close of $2 billion for the fund, including its own commitment of $1.5 billion.
"Current market conditions are contributing to lengthy and time-consuming fundraising processes for many private equity funds," Onex said.
Onex's predecessor flagship fund, Onex Partners V, closed in 2017 with $7.15 billion, including a $2 billion commitment from the firm.
