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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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.