Blackstone, Other Private Equity Firms, In Jupiter Talks

Feb 28 2007 | 11:57am ET

Word on the street at the Super Return private equity conference in Frankfurt, Germany, is that the Blackstone Group is in talks to buy Jupiter Asset Management from Commerzbank. Sources close to the discussion told The Times of London that a decision to go forward with the deal, which could value Jupiter at as much as £1 billion, is not expected for several weeks, and that Commerzbank has also discussed a sale with several other p.e. firms, including Candover.

Last year, Commerzbank weighed whether to float the asset manager on the London Stock Exchange, an option that remains on the table.

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