JPMorgan Chase, which is planning to break up its buyout unit, is in talks to sell about $4bn of private-equity stakes to an investor group, said three people familiar with the situation.
Bloomberg reports that the potential buyers examining the holdings include Canada Pension Plan Investment Board, Coller Capital, Lexington Partners, HarbourVest Partners, Goldman Sachs and Ardian, said two of the people. They asked not to be named because the talks are private.
The investor group would also provide capital for new deals to One Equity Partners, the private-equity arm of JPMorgan that’s in the process of becoming an independent firm. The business, which used to invest the bank’s own money, will begin raising its next fund from an external group of investors, the bank said in June. JPMorgan joins banks including Credit Suisse Group and Citigroup in cutting back private-equity holdings to focus on its main businesses.
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