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Kirkland & Ellis LLP-advised One Equity Partners announced Monday that it has closed its latest flagship private equity fund at $3.25 billion, marking the firm’s largest fundraise to date.

The vehicle, named One Equity Partners IX LP, exceeded its $2.75 billion target and reached its $3.25 billion hard cap, the firm said in a statement. The successful close brings One Equity Partners’ total assets under management to about $16 billion.

Fund History and Growth

This latest fund follows the $2.75 billion One Equity Partners VIII LP, which closed in April 2022, and the $1.75 billion One Equity Partners VII LP, which wrapped in October 2019. Each successive fund has shown significant growth in size, reflecting increased investor demand and confidence in the firm’s strategy.

“We are especially grateful for the partnerships and steadfast support from our existing investors who have seen the success of our differentiated deal sourcing and value creation approach, and we look forward to developing long-term partnerships with the new investors we welcomed to the fund,” said David Lippin, partner and head of investor relations at One Equity Partners.

Investment Strategy and Reach

Founded in 2001, One Equity Partners is a middle market private equity firm with a focus on industrial, healthcare, and technology investments across North America and Europe. The firm maintains offices in New York, Chicago, Frankfurt, and Amsterdam, and has completed more than 400 transactions worldwide since inception.

The firm’s portfolio includes a diverse mix of companies such as Alltub, a French aluminum and laminate specialty packaging producer; CloudOne Digital, a global cloud hosting platform; DWK Life Sciences, a supplier of laboratory glass and pharmaceutical packaging materials; and MediaKind, a video software technology provider.

Investor Base and Global Backing

The new fund attracted limited partners from over 30 countries, supported by a broad investor base that included insurance companies, pension funds, asset managers, sovereign wealth funds, funds-of-funds, foundations, family offices, and high net-worth individuals.

“We are thankful for the strong support from our existing investors, as well as our partnerships established with new investors,” said Greg Belinfanti, president of One Equity Partners. “For nearly 25 years, we have remained consistent with our value-oriented investment strategy that enables middle market companies to achieve accelerated growth through transformational combinations.”

Legal Counsel

Kirkland & Ellis LLP advised One Equity Partners on the fund formation, though full details on the legal team were not immediately available Monday.