JPMorgan To Sell Portion Of Its Interests In One Equity Partners

(RTTNews) - JPMorgan Chase & Co. (JPM) said Monday that it has agreed to sell its interests in about 50% of the portfolio companies currently held by its private equity unit One Equity Partners to Lexington Partners and AlpInvest Partners.

Terms of the deal, which is expected to close by year-end, were not disclosed.

The One Equity Partners professionals will form a new private equity investment advisory firm, OEP Capital Advisors, L.P., and become independent from JPMorgan Chase once the sale is completed. OEP Capital Advisors will manage the portfolio being sold by JPMorgan Chase, as well as the investments being retained by JPMorgan Chase.

The deal is not expected to have a material impact on JPMorgan's earnings.