JPMorgan Sells P.E. Stake To Lexington, Carlyle

Aug 12 2014 | 7:54am ET

JPMorgan Chase has finalized a deal to sell about half of its investment in its private-equity business’ funds.

The bank will sell the stake to Lexington Partners and Carlyle Group’s AlpInvest Partners, both active participants in the p.e. secondary market, for about $2 billion. JPMorgan will retain its investment in about half of One Equity’s portfolio companies, which are valued at a combined $4.5 billion.

The companies will continue to be run by One Equity, which is to be spun off from JPMorgan. Both Lexington and AlpInvest are said to have committed to raising money for One Equity’s next fund, which JPMorgan will not invest in.


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