J.P. Morgan confirms Arch cru asset purchase

J.P. Morgan's Private Equity limited has completed the purchase of a range of assets held by the former Arch cru funds.

The company said in a statement it had bought a range of private equity investments worth $91.9m (£56.5m) from the SPL funds. "J.P. Morgan Private Equity Limited (JPEL) is pleased to announce the completion of its acquisition of a portfolio of 38 mid-market buyout co-investments in an all share transaction valued at approximately $91.9m from the SPL Funds," the board of J.P. Morgan Private Equity said. As part of the deal, 44.7m new equity shares in the JPMorgan vehicle, and a further 30.4m zero shares, were listed for trading. The announcement comes after J.P. Morgan's Guernsey li...