One Investment Management

One Investment Management

Justin O'Shea launched One Investment Management (One IM) in 2015 after a career at Paul Singer's Elliott Management, one of the world's most formidable activist hedge funds. The firm's DNA is deeply Elliott: long-duration, concentrated, and structurally flexible. One IM operates as an investment holding company rather than a classic drawdown private equity fund, targeting permanent ownership of a small number of North American businesses. The firm's strategy centers on buying a single platform company per sector and aggressively growing it through add-on acquisitions, a strategy the firm calls a "one name" approach. One IM deploys equity across enterprise software, financial technology, consumer, and healthcare services. Its flagship investment is Mobivity, a publicly traded mobile marketing platform where One IM built a majority stake and installed O'Shea as CEO (per public filings, 2021). The firm also controls a significant stake in iPass, providing Wi-Fi connectivity and analytics (per public filings, 2019/2020). The portfolio construction echoes the long-duration, control-oriented posture of single-family offices — One IM holds businesses without a preset exit timeline. From its first fund, One Investment Management secured $270 million in capital commitments from a concentrated group of institutional allocators including public pension funds and endowments (per public plan disclosures, 2018). The firm runs a lean operation from New York, with O'Shea as the lead decision-maker. As of 2023, One IM continued its strategy of transforming single operating companies into platforms, refinancing portfolio debt, and re-negotiating board-level control — moves that reflect the Elliott playbook of concentrated, hands-on value creation. Recent regulatory filings show the firm maintaining its core public-company positions while continuing add-on acquisition searches. One IM's structural differentiator is its perma-capital mindset inside a traditional fund wrapper. Unlike private equity firms that must exit within 5–7 years, One IM structures its mandate to hold assets indefinitely — an architecture that mirrors how a single-family office or Berkshire Hathaway would build a portfolio. The concentrated permanent-hold strategy means the firm can ignore short-term market pressures, but it also concentrates governance risk in a single lead operator. For a first-time manager, the $270 million raise and long-duration mandate represent a genuinely distinct entry into the mid-market buyout landscape.