One Equity Partners raises $1.75bn

The JPMorgan spinout closes second fund since becoming an independent private equity manager.

One Equity Partners has held a final close of its second flagship mid-market fund as an independent private equity manager, One Equity Partners VII, at $1.75 billion. OEP, which spun out of JPMorgan in 2015, acquires controlling interests in healthcare, industrials and technology services in North America and Western Europe, targeting companies with revenues of $100 million to $800 million and EBITDA of $10 million to $70 million.

Commitments to fund were made by pension funds, financial institutions, family offices, asset managers, funds of funds, insurance companies, foundations and high-net-worth individuals.

One Equity Partners VI close at $1.65 billion in February 2017.