Group Led by Lexington Partners to Acquire Portion of JPMorgan Chase's Interests in One Equity Partners

  Group Led by Lexington Partners to Acquire Portion of JPMorgan Chase's
  Interests in One Equity Partners

        One Equity Partners to become independent from JPMorgan Chase

Business Wire

NEW YORK -- August 11, 2014

Lexington Partners (“Lexington”) together with AlpInvest Partners
(“AlpInvest”) announced today that they have entered into a definitive
agreement to acquire JPMorgan Chase’s interests in approximately 50% of the
portfolio companies currently held by One Equity Partners (“OEP”), JPMorgan
Chase’s principal private equity unit. Terms of the transaction, which is
expected to close by year-end, were not disclosed.

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

“Lexington is pleased to partner with One Equity Partners to acquire a
significant portion of JPMorgan Chase's interests, and to support the future
investment activities of the OEP team,” said Brent Nicklas, Managing Partner
of Lexington Partners.

"We view this as a great opportunity to partner with one of the industry’s
leading private equity firms,” said Tjarko Hektor, Managing Director of
AlpInvest Partners.

“We look forward to delivering great long-term value to these two leading
alternative investment management firms,” said Richard M. Cashin, Chairman and
Chief Executive Officer of One Equity Partners. “We also thank JPMorgan Chase
for their partnership and support of many years, enabling us to build the
business we have today."

The transaction is not expected to have a material impact on JPMorgan Chase’s
earnings. J.P. Morgan advised on the sale.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm
with assets of $2.5 trillion and operations worldwide. The Firm is a leader in
investment banking, financial services for consumers and small businesses,
commercial banking, financial transaction processing, and asset management. A
component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves
millions of consumers in the United States and many of the world's most
prominent corporate, institutional and government clients under its J.P.
Morgan and Chase brands. Information about JPMorgan Chase & Co. is available
at www.jpmorganchase.com.

About Lexington Partners

Lexington Partners is a leading global alternative investment manager
primarily involved in providing liquidity to owners of private equity and in
making co-investments alongside leading private equity sponsors. Lexington
Partners is the largest independent manager of secondary acquisition and
co-investment funds with more than $28 billion in committed capital. Lexington
also invests in private investment funds during their initial formation and
has committed to new funds in the U.S., Europe, Latin America, and the
Asia-Pacific region. Lexington has offices strategically located in major
centers for private equity and alternative investing – New York, Boston, Menlo
Park, London, and Hong Kong. Additional information may be found at
www.lexingtonpartners.com.

About AlpInvest Partners

AlpInvest is a global private equity investor with US$52 billion of assets
under management as of March 31, 2014. AlpInvest’s activities cover a broad
range of private equity investing, including Primary Fund commitments,
Secondary purchases and Co-Investments. The firm’s investments span the full
spectrum of private equity, including buyouts, venture capital, growth
capital, mezzanine, and distressed. AlpInvest manages programs for a number of
institutional investors globally. www.alpinvest.com

Contact:

For JPMorgan Chase:
J.P. Morgan
Brian Marchiony, +1-212-270-7433
brian.j.marchiony@jpmorgan.com
or
For Lexington:
Lexington Partners
Rebecca John, 212-754-0411
rajohn@lexpartners.com
or
For AlpInvest:
AlpInvest Partners
Emily-Jane Finigan, +1-212-332-6403
emily-jane.finigan@alpinvest.com
 
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