JPMorgan Chase Divests Private Equity Unit

The financial services giant's One Equity Partners will begin raising its own funds, and become independent.

By Tim Brugger – Jun 14, 2013 at 5:29PM EST

One Equity Partners (OEP), the private equity arm of JPMorgan Chase (JPM 3.02%), 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."

Tim spends much of his day writing articles and content for The Fool and, not surprisingly, loves it! However, Tim still fancies himself a storyteller as well and will continue to pursue his passion for writing fiction. His first book, The Lives of Stupid People Volume 1 (The next, great American novel as you can tell from the title), was published in 2011, along with a couple award-winning short stories. Tim majored in business studies and marketing at the University of Oregon, remains an avid soccer player and crossword fanatic, and currently lives with his 3 children in Portland, OR.

timbrugger

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JPMorgan Chase Divests Private Equity Unit

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