JPMorgan is close to selling the majority of PE private equity (PE) business by giving up the control of the $ 6bn business to Highbridge CEO, Scott Kapnick , and others in his management team. The bank is expected to retain, however, a minority share of the Highbridge Capital Management's business, along with all of Highbridge 's $ 22bn hedge fund business. The primary reason for the move is the desire by the PE business team to be free of the constraints of a large bank. It is also in line with JPMorgan 's plans to simplify its business and shed assets that require it to hold relatively large amounts of capital.
JPMorgan is close to selling the majority of Highbridge Capital Management's private equity (PE) business by giving up the control of the $22bn business to Highbridge CEO, Scott Kapnick, and others in his management team. The bank is expected to retain, however, a minority share of the PE business, along with all of Highbridge's $6bn hedge fund business. The primary reason for the move is the desire by the PE business team to be free of the constraints of a large bank. It is also in line with JPMorgan's plans to simplify its business and shed assets that require it to hold relatively large amounts of capital.