JP Morgan spin-out One Equity racks up $1.65 bln for sixth fund

One Equity Partners, a mid-market private equity firm, has closed its sixth fund at $1.65 billion.

One Equity Partners VI LP will focus on businesses in the industrial, healthcare and technology sectors in North America and Europe. The fund’s limited partners include pension funds, financial institutions, sovereign wealth funds, consultants and family offices.

According to the firm, One Equity Partners VI LP was the first fund raised with outside capital following the firm’s spin-out from J.P. Morgan in 2015.

Also, the firm has already invested or committed about $600 million from the Fund VI to new transactions.

In 2013, One Equity closed its fifth fund at $900 million, said a spokesperson for the firm. No performance data was available about Fund V.

Photo: People walk by the JP Morgan Chase & Co. building in New York on October 24, 2013. Photo credit Reuters/Eric Thayer