JPMorgan Chase Divests Private Equity Unit

Before you go, we thought you'd like these...
Before you go close icon

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

The article JPMorgan Chase Divests Private Equity Unit originally appeared on Fool.com.

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.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job 20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job
Ninja Squirrel Narrowly Escapes Becoming A Hungry Hawk's Dinner With His Unbelievable Ninja Squirrel Narrowly Escapes Becoming A Hungry Hawk's Dinner With His Unbelievable
People Are Stunned When They Found Out What Creature This Horrifying Mouth Belongs To People Are Stunned When They Found Out What Creature This Horrifying Mouth Belongs To