JPMorgan Chase & Co is reportedly in advanced talks with investment firms Lexington Partners and AlpInvest Partners, a unit of Carlyle Group, to sell half its stake in private equity business One Equity Partners (OEP).
JPMorgan chairman and CEO James Dimon told The Wall Street Journal that a deal is expected to come soon and that the bank may not sell all of its interests in One Equity funds.
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The publication said that JPMorgan has no plans to invest in One Equity funds in the future.
As part of the transaction, the bidders may commit cash to One Equity’s next buyout fund.
The sale comes as the banks face regulatory pressure in Europe and the US to reduce bets, such as corporate buyouts.
The terms of the sale have not been disclosed.
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By GlobalDataFounded in 2001, OEP managed about US$14 billion in total investments and committed capital for JPMorgan.
