One Equity Partners (OEP), a middle market private equity firm, has completed fundraising for One Equity Partners VII, LP (Fund VII) with USD1.75 billion in total capital commitments, bringing the firm’s total AUM to USD6.5 billion.
Fund VII attracted commitments from a range of premier global institutional LPs, including pensions funds, financial institutions, family offices, asset managers, fund of funds, insurance companies and foundations.
“We are grateful for the significant support we received from new and existing limited partners in the U.S. and globally as we raised Fund VII, our second institutional fund since we spun out of JP Morgan in 2015,” say the leadership team of One Equity Partners. “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 plans on continuing its “Transformative Combination” strategy with Fund VII. Through this strategy the firm seeks to merge like-sized middle market businesses in order to create a ‘steep change in growth and enhance market leadership’. Fund VII’s focus is making equity investments of between USD30 million and USD300 million in growing healthcare, industrial and technology businesses in North America and Europe.
OEP has been actively investing Fund VII, and has so far made nine platform investments. They include Orion Business Innovation, a global technology services firm; Ernest Health, an operator of inpatient rehabilitation and long-term acute care hospitals; MediaKind, a pure-play video software technology company carved out of Ericsson; and Walterscheid Powertrain Group, a European original equipment and aftermarket parts and services provider.
“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,” says Dick Cashin, President of One Equity Partners.