One Investment Management

Justin O'Shea, the firm's founder and managing partner, leads all investment decisions. O'Shea previously worked at Elliott Management under Paul Singer and chairs the boards of One IM's portfolio companies, including serving as CEO of Mobivity. The firm does not maintain a dispersed investment committee; capital allocation and operational strategy flow from O'Shea directly.

One IM acquires control positions in a single platform company per sector and expands it through add-on acquisitions — a strategy the firm labels its 'one name' approach. The firm holds assets indefinitely rather than targeting a fixed fund exit timeline, which places it closer to a long-duration holding company than a traditional private equity fund.

Public pension plan disclosures show that the Texas County & District Retirement System and other institutional allocators committed to One IM's debut vehicle (per TCDRS disclosures, 2018). The firm raised $270 million in total for that fund from a concentrated group of endowments, public pensions, and family offices.

Founder Justin O'Shea was previously a portfolio manager at Elliott Management, Paul Singer's $60 billion activist hedge fund. One IM carries forward Elliott's signature playbook: concentrated control positions, operational overhaul of management teams, and long-duration horizons. However, One IM operates independently and does not share capital or deal flow with Elliott.

One IM invests in both. Its two most visible positions — Mobivity and formerly iPass — have been publicly traded companies where the firm accumulated large control stakes and took board seats. The firm also evaluates private operating companies that fit its buy-and-build thesis, though public disclosures skew toward its publicly listed holdings.

One IM structures its funds with a permanent-hold mandate that removes the standard 5–7 year private equity exit clock. The firm can return capital through dividend recapitalizations, partial secondary sales, or opportunistic full exits, but it is not contractually obligated to liquidate positions on a preset schedule. This structure is uncommon among mid-market funds.

The firm invests exclusively in North America, with a focus on US-based platform companies. Its public-company holdings, including Mobivity and the former iPass position, are both headquartered in the United States. One IM has not disclosed any international investments to date.