On the latest episode of Behind the Buyouts, One Equity Partners LLC president Greg Belinfanti discussed the firm’s approach to middle market investing and M&A in 2026.

Founded in 2001 as the in-house private equity arm of Bank One Corp., New York-based One Equity invests in business services, industrials, healthcare and technology verticals.

One Equity became a part of JPMorgan Chase & Co. (JPM) in 2004 following Bank One’s merger with the bank. The firm then spun out as an independent fund in 2015.

The firm’s time as part of JPMorgan continues to inform its proactive investment approach of partnering with founders, families and corporates, according to Belinfanti.

One Equity had to figure out of a way of investing that wasn’t competitive with JPMorgan’s core businesses and investment banking operations. The firm therefore started approaching companies that weren’t for sale to lay out a growth plan and offer to be their partners.

“Every time there was a business for sale, there was going to be a JPMorgan client or JPMorgan’s going to be trying to finance someone or give M&A advice,” Belinfanti said. “[So] we just had one simple thought, and that simple thought was to call on companies and tell them what [we] think they should do and offer to do it with them, to be their partners to help them grow their businesses and improve their businesses.”

Corporate carveouts represent about 40% of OEP’s recent deals, while founder- and family-owned companies account for much of the remainder, according to Belinfanti. The firm has committed about $2.9 billion of its latest fund, OEP IX with $3.25 billion in commitments, across 21 platforms.

Belinfanti highlighted PGW Auto Glass LLC, acquired from LKQ Corp. (LKQ) in 2022, and EthosEnergy, acquired from John Wood Group plc and Siemens Energy AG in January 2025, as examples of OEP’s carveout strategy. He also discussed OEP’s sale of InfuCare Rx Inc. back to its founder.

Listen to the podcast with Greg Belinfanti below:

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