JPMorgan's private equity unit to become independent

June 14 Fri Jun 14, 2013 9:17am EDT

June 14 (Reuters) - JPMorgan Chase & Co said its private equity unit, One Equity Partners, will become independent from the bank and raise future funds from an external group of partners.

One Equity will continue to make direct investments for the bank for an interim period and still manage the existing group of portfolio companies for it.

One Equity currently manages about $4.5 billion in investments for JPMorgan.

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