One Equity Partners to spin-off from JP Morgan?

Bank One Corporation's private equity division is expected to spin-off from JP Morgan Chase's wider banking business. In July this year, JP Morgan acquired Bank One for around $58bn and has been integrating operations. Furthermore, Bank One operates from a separate New York location to the rest of the business. JP Morgan has invested $700m in One Equity's $2bn fund, however, after the commitment is concluded, One Equity Partners many opt to raise a new independent fund. According to the Wall Street Journal, JP Morgan is likely to invest around $500m if One Equity seeks to raise a future $2.5bn fund.

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