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 New York lender is working to finalize a deal to sell the majority of Highbridge Capital Management LLC’s private equity business to Highbridge Chief Executive Scott Kapnick and other members of his management team, according to people familiar with the matter. The bank is expected to retain, however, a minority share of the PE business, along with all of Highbridge's $6bn hedge fund business. In an interview on CNBC's Squawk Box, Mr Buffett said he was "surprised" that Goldman Sachs had not been able to find another buyer for its investment banking arm. 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. In an interview on CNBC's Squawk Box, Mr Buffett said he was "surprised" that Goldman Sachs had not been able to find another buyer for its investment banking arm. 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.