J.P. Morgan Chase & Co. is close to relinquishing control of a $22 billion private equity business, turning loose part of a firm it acquired before the financial crisis and helped quadruple in size. JPMorgan is close to acquiring the majority of Highbridge Capital Management 's private equity ( LP ) 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 mutual 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 constraints that require it to hold relatively large amounts of capital .
JPMorgan is close to acquiring the majority of Highbridge Capital Management 's private equity ( LP ) 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 mutual 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 constraints that require it to hold relatively large amounts of capital .