JPMorgan Says Private-Equity Holdings Increased 16%

JPMorgan Chase & Co.’s private-equity portfolio increased 16 percent during the first quarter as the company stepped up investments in firms that aren’t publicly traded.

The bank, ranked second by assets in the U.S., pegged the carrying value of its portfolio at $10.1 billion, 6.6 percent below cost, according to a supplement released April 13 along with the New York-based company’s earnings. The cost of the portfolio was listed at $10.8 billion, an 8.2 percent increase in three months. Compared with a year earlier, the carrying value rose 39 percent and the cost by 24 percent.