One Equity Partners to split from JP Morgan

OEP will continue to manage JP Morgan's current portfolio and will carry on investing on behalf of its parent firm for an interim period.

Although the timing of OEP's next fundraising effort has yet to be confirmed, the firm will seek commitments from external LPs, having previously operated on a purely captive basis.

JP Morgan associates agreed that "the time is right" for OEP to begin raising capital from outside investors. According to unquote" data, OEP's most recent fund was a joint venture with Russian billionaire Vladimir Potanin's private equity firm, Interros Holding, that saw each party commit $500m to invest in the Russian consumer market.

OEP's European portfolio includes Linpac Allibert, the transport packaging arm of UK-based Linpac Group, which was wholly acquired by OEP in March 2012. The firm also bought an 87% stake in Smartrac, a Dutch manufacturer of radio-frequency identification transponders, for an estimated €350m.

OEP typically invests anywhere between $50-250m per transaction on a global scale. The firm tends to partner with management teams in its deals and currently holds approximately $4.5bn in assets under management for JPMorgan. Dick Cashin is OEP's managing partner.

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• Topics
• Fundraising
• GPs
• JP Morgan
• One Equity Partners