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One Equity Partners to become independent from JPMorgan Chase

Lexington Partners (“Lexington”) together with AlpInvest Partners (“AlpInvest”) announced today that they have entered into a definitive agreement to acquire JPMorgan Chase’s interests in approximately 50% of the portfolio companies currently held by One Equity Partners (“OEP”), JPMorgan Chase’s principal private equity unit. Terms of the transaction, which is expected to close by year-end, were not disclosed.

The OEP professionals will form a new private equity investment advisory firm, OEP Capital Advisors, L.P. (“OEPCA”), and become independent from JPMorgan Chase once the sale is completed. OEPCA will manage the portfolio being sold by JPMorgan Chase, as well as the investments being retained by JPMorgan Chase.

“Lexington is pleased to partner with One Equity Partners to acquire a significant portion of JPMorgan Chase’s interests, and to support the future investment activities of the OEP team,” said Brent Nicklas, Managing Partner of Lexington Partners.

“We view this as a great opportunity to partner with one of the industry’s leading private equity firms,” said Tjarko Hektor, Managing Director of AlpInvest Partners.

“We look forward to delivering great long-term value to these two leading alternative investment management firms,” said Richard M. Cashin, Chairman and Chief Executive Officer of One Equity Partners. “We also thank JPMorgan Chase for their partnership and support of many years, enabling us to build the business we have today.”

The transaction is not expected to have a material impact on JPMorgan Chase’s earnings. J.P. Morgan advised on the sale.

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at

About AlpInvest Partners
AlpInvest is a global private equity investor with US$52 billion of assets under management as of March 31, 2014. AlpInvest’s activities cover a broad range of private equity investing, including Primary Fund commitments, Secondary purchases and Co-Investments. The firm’s investments span the full spectrum of private equity, including buyouts, venture capital, growth capital, mezzanine, and distressed. AlpInvest manages programs for a number of institutional investors globally.

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About Lexington

Lexington Partners is one of the world’s largest and most successful managers of secondary private equity and co-investment funds. Lexington helped pioneer the development of the institutional secondary market over 30 years ago and created one of the first independent, discretionary co-investment programs 25 years ago. Lexington has total capital in excess of $75 billion and has acquired over 5,000 interests through more than 1,000 transactions. Lexington’s global team is strategically located in major centers for private equity and alternative asset investing across North America, Europe, Asia, and Latin America. Lexington is the global secondary private equity and co-investments specialist investment manager of Franklin Templeton.

Media Contacts

For JPMorgan Chase:
Brian Marchiony
J.P. Morgan
(212) 270-7433

For Lexington:

Todd Fogarty
(212) 521-4854

For AlpInvest:
Emily-Jane Finigan
AlpInvest Partners
(212) 332-6403