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Laxman Pai, Opalesque Asia:

One Equity Partners (OEP) has raised $1 billion with help from AlpInvest Partners, a subsidiary of global investment firm Carlyle, and HarbourVest Partners for a so-called continuation fund for two portfolio companies.

According to a media release from the middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe the additional capital will help drive transformational acquisitions and continued growth at aftermarket construction parts manufacturer and distributor USCO SpA and laboratory glassware manufacturer DWK Life Sciences.

"OEP is proud to partner with AlpInvest and HarbourVest on this oversubscribed transaction that generates liquidity and attractive returns for our existing investors in two proven assets and allows us to continue driving acquisitions and growth," said David Lippin, Managing Director and Head of Investor Relations at One Equity.

"We were able to garner support in this transaction from new investors and institutions across both North America and Europe who recognized the firm's strong track record of creating and driving value via its unique transformative combination strategy," David added.

USCO, based in Modena, Italy, supplies aftermarket and OEM parts to the earthmoving machinery industry globally, including repair components and ground-engaging and undercarriage parts, said the release from the private equity firm with over $10 billion......................

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