JPMorgan To Sell Private-Equity Investments On Secondary Market

Jul 23 2014 | 1:07pm ET

JPMorgan Chase is in advanced talks to sell half of its interest in funds run by its private-equity arm in advance of a spin-off of that unit.

Lexington Partners and AlpInvest Partners are the probably buyers, The Wall Street Journal reports. The two would split about half of JPMorgan’s $4.5 billion investment in One Equity Partners’ funds.

The firms would also commit to investing in One Equity’s next buyout fund. JPMorgan has foresworn putting its own money up in such a future vehicle.

JPMorgan CEO Jamie Dimon said last week that a One Equity spin-off, originally announced last year, would be coming “soon.” The bank may retain some of its equity and investments in the business, Dimon said.

The timing appears to be right for JPMorgan Chase: private-equity fund stakes have been going for near net-asset value on the secondary market recently, according to the Journal.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...