JPMorgan said close to selling majority stake in Highbridge

For Sale sign

JPMorgan Chase is close to selling a majority stake in Highbridge Capital Management LLC to the executives who run the $22bn private-equity business, a person with direct knowledge of the matter said.

Bloomberg News reports that the deal, under discussion since at least 2014, is expected to be completed by year-end, said the person, who asked not to be identified because the matter isn’t public.

Highbridge CEO Scott Kapnick and other members of management will own the bulk of the business while JPMorgan will retain a minority stake, the person said.

JPMorgan bought a majority stake in Highbridge in 2004 for more than $1.3bn and increased its ownership over the next five years.

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JPMorgan Said Close to Selling Majority Stake in Highbridge

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