Wednesday, 25 November 2015
Last updated 1 hour ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…