JPMorgan Private-Equity Spin-Off Coming ‘Soon’

Jul 16 2014 | 3:15pm ET

JPMorgan Chase could spin-off its private-equity business “soon,” CEO Jamie Dimon said yesterday.

Dimon address One Equity Partners’ future during the bank’s quarterly earnings call. JPMorgan announced plans to spin off the business a year ago.

Dimon said yesterday that it may retain some of the One Equity business.

One Equity’s profits plummeted in the second-quarter, dropping to $7 million from $212 million in the year-earlier period. Revenue fell to $36 million from $410 million.

A year ago, One Equity managed $4.5 billion—all of its JPMorgan’s money. The unit, which the bank acquired in 2004 along with Bank One Corp., is to raise money from outside investors to replace it.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...