JPMorgan Chase & Co is close to a deal to sell half its private equity business, One Equity Partners, the Wall Street Journal reported, citing people familiar with the matter. JPMorgan is in advanced discussions with investment firms Lexington Partners LP and Carlyle Group LP's unit AlpInvest Partners, the people said. (on.wsj.com/1nkvk8W)JPMorgan has no plans to invest in One Equity funds in the future, the Journal said citing the people.Reuters had earlier reported that One Equity Partners had investments valued at more than $4 billion, according to sources.The bank announced last July it was spinning off One Equity, its last remaining private equity operation, because the unit was not core.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM traded higher by 0.74% or $0.43/share to $58.67. In the past year, the shares have traded as low as $50.06 and as high as $61.48. On average, 14360500 shares of JPM exchange hands on a given day and today's volume is recorded at 10376795.
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