The banking group has told suitors that it wants offers at least equal to the unit’s net asset value of $5.4bn, said Dow Jones, citing three people with knowledge of the matter.
Back in November it was reported that JP Morgan was considering a spinout One Equity in what would be the largest spinout of a bank private equity unit to date.
Since its launch in 2001, One Equity has managed $14bn in committed capital. The firm, which has presence in North America, South America, Europe and Asia, has invested between $50m and $500m per deal.
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