One Equity Partners, a middle-market private equity firm has closed its One Equity Partners VIII LP with commitments totaling $2.75 billion.
The fund closed oversubscribed and the hard cap was increased; as a result of the fund, the firm’s combined assets under management and committed capital add up to $10 billion. The fund represents One Equity Partners’ largest independent fund since its 2015 spin-out from JP Morgan. Going forward, the firm plans to target equity commitments between $30 and $300 million across technology, industrial, and healthcare industries.
“We are grateful for the support from our investors and remain focused on our signature ‘Transformative Combination’ strategy in which we merge complementary, like-sized businesses to create market leaders, and do so with the modest use of leverage,” said Dick Cashin, president and founder of One Equity Partners. “This approach has historically helped our portfolio withstand a variety of economic conditions and allowed us to be nimble and opportunistic during periods of short-term volatility.”
Kirkland & Ellis LLP served as legal counsel for OEP.