One Equity Closes New Fund

One Equity Partners (OEP) has held a final closing of its seventh fund, One Equity Partners VII LP, with $1.75 billion in total capital commitments. This is the largest fund that OEP has ever raised.

Limited partners in the new fund include pension funds, financial institutions, family offices, asset managers, fund of funds, insurance companies, foundations, and high net worth individuals.

“We are grateful for the significant support we received from new and existing limited partners in the US and globally as we raised Fund VII, our second institutional fund since we spun out of JP Morgan in 2015,” said OEP in a released statement. “This broad support demonstrates the continued confidence investors have in our ability to consistently source proprietary transactions and acquire quality companies at attractive valuations while using modest leverage.”

OEP invests from $30 million to $300 million in industrial, healthcare, and technology companies that are based in North America and Europe. “We look forward to continue unlocking value for our investors, remaining focused on our middle market investment strategy, and building upon our long-term track record in global private equity investing,” said Dick Cashin, president of OEP.

The firm has been actively investing Fund VII and has closed on nine platforms to date including Orion Business Innovation, a Woodcliff Lake, NJ-based provider of IT consulting services to large corporations (acquired in October 2018); Ernest Health, a Mechanicsburg, PA-based provider of post-acute healthcare services with 18 inpatient

rehabilitation facilities and 7 long-term acute care hospitals with 978 total beds across 11 states (May 2018); MediaKind, a Plano, TX-based provider of video compression software used for video service distribution, cloud-based DVR services, and cloud-based TV by telecommunications, cable, satellite and media companies (January 2019); and Walterscheid Powertrain Group, a Lohmar, Germany-based provider of original equipment and aftermarket parts and services for off-highway powertrain applications (June 2019).

OEP, founded in 2001, was spun out of JP Morgan in 2015. The closing of Fund VII follows OEP’s sixth fund which closed in February 2017 with $1.65 billion of commitments. Fund VI was the first fund raised with outside capital following the firm’s spinout from JP Morgan. With the closing of Fund VII, OEP now has $6.5 billion of assets under management. OEP has offices in New York, Chicago and Frankfurt (www.oneequity.com).

© 2019 Private Equity Professional | October 8, 2019

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