One Equity Partners (OEP), the private equity arm of JPMorgan Chase (NYSE:JPM), will begin raising its own investment funds and become an independent entity, JPMorgan announced today. One Equity Partners has been JPMorgan's private equity investment unit for the past 12 years, and currently manages approximately $4.5 billion.

One Equity Partners will continue to make direct equity investments for JPMorgan Chase during the transition period, and will continuing managing the existing group of portfolio companies, the bank said.

JPMorgan Chase CEO Jamie Dimon commented, "I have worked with the team at OEP for the past 12 years and have a lot of respect for all that they have accomplished and the great value they have delivered to the firm."

Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool owns shares of JPMorgan Chase & Co. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.