JPMorgan Said Close to Selling Majority Stake in Highbridge

  • JPMorgan private-equity business has $22 billion in assets
  • Bank said planning to sell fund to CEO Kapnick, other managers

JPMorgan Chase & Co., the largest U.S. bank, is close to selling a majority stake in Highbridge Capital Management LLC to the executives who run the $22 billion private-equity business, a person with direct knowledge of the matter said.

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