JPMorgan Chase (JPM) plans to break off its private-equity unit and will begin to raise their next fund from an external group of investors.
One Equity Partners currently manages $4.5 billion of investments for JPMorgan in direct private equity transactions and has produce strong returns over the last 12 years, the company noted.
The unit will continue to make direct investments on behalf of JPMorgan for an interim period and will still managing the existing group of portfolio companies.
