JPMorgan Chase announced today that its private equity arm, One Equity Partners, will start to finance independently. The unit will raise funds from an external group of limited partners, and will be recognized as independent from JPMorgan Chase.
One Equity Partners currently has $4.5 billion worth of investments in direct equity transactions for JPMorgan Chase in its management. This investment has produced favorable returns for the past 12 years.
During the transition perion, OEP will continue its direct investments for JPMorgan Chase. The private equity unit will also continue to manage JPMorgan Chase's existing group of portfolio companies.
"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," Jamie Dimon, Chairman and CEO of JPMorgan Chase, stated. "Going forward, I am confident they will continue to be extremely successful," Dimon added.
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