FOX Business reports, that JPMorgan (JPM) has drawn up contingency plans to sell its massive hedge fund, Highbridge Capital, which it purchased in December 2004 for about $1 billion. The fund manages approximately $21 billion of capital for some of the world’s most prominent institutional investors.
JP Morgan also owns one of the largest private equity arms in the financial system that manages $15 billion in assets. According to Fox, the co. has contingency plans to sell that as well.
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