One Equity to Acquire Ex-Blackstone Dealmaker’s Buyout Firm

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OEP Capital Advisors, the former buyout arm of JPMorgan Chase & Co., is acquiring Chip Schorr’s Augusta Columbia Capital Group.

The merger will add technology expertise to One Equity Partners’ dealmaking, the New York-based firm said in a statement Tuesday without disclosing financial terms. Schorr, who started Augusta in 2011 after leading tech deals at Blackstone Group LP for six years, didn’t respond to a request for comment about Augusta’s investment staff and portfolio.

At Blackstone, the biggest private equity firm, Schorr’s deals included leveraged buyouts of Freescale Semiconductor Ltd. and Travelport Worldwide Ltd. He previously led buyouts of Fairchild Semiconductor International Inc. and AMI Semiconductor Inc., among others.

One Equity, which was spun out of New York-based JPMorgan earlier this year, is run by Dick Cashin and manages $3.5 billion in equity. Schorr will be a senior managing director at One Equity and serve on the operating and investment committees. He and Cashin previously worked together at Citigroup Venture Capital.

One Equity owns stakes in more than 20 manufacturing, tech, health-care, energy, chemicals and food companies, according to its website. The firm is raising a $1.5 billion fund, people with knowledge of the plans said in July, which will be its first investment vehicle since separating from JPMorgan.

“Chip brings an unparalleled 20-year record investing in mid-market technology,” Cashin said in the statement.

(A previous version of this story corrected the firm where Schorr and Cashin worked together.)

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