New York-based middle-market private equity firm One Equity Partners has raised $1.65 billion for its first fund with outside capital since spinning off of JP Morgan (NYSE: JPM) in 2015.

The fund, One Equity Partners VI, will focus on investing in businesses in industrial, healthcare and technology sectors in North America and Europe. Already the firm has invested about $500 million from the fund, making eight initial investments in companies and eight add-on acquisitions. Another $100 million investment is expected to close in about two weeks.

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