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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• UK / Ireland