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JPMorgan Said to Seek Sale of Global Special Opportunities Group

JPMorgan Said to Seek Sale of Global Special Opportunities Group

JPMorgan Chase is seeking to sell a global investment unit in a push to simplify operations by paring non-essential holdings, a person familiar with the matter said.

JPMorgan began offering its Global Special Opportunities unit, which has about $2 billion in assets, to potential buyers in the past few weeks, said the person, who asked not to be identified because the talks are confidential. Private-equity firms Blackstone Group LP, Carlyle Group LP and KKR & Co. among possible bidders for the business, which could fetch $1 billion, the Financial Times reported today, citing unidentified people familiar with the situation.

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