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

Hedge Fund Selection: Sussex Partners’ Patrick Ghali Bullish On The Best Of The Best

Oct 2 2014 | 5:56am ET

Ten years ago, Patrick Ghali and Robin Nydes co-founded Sussex Partners with the...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.