JP Morgan aiming to boost PE division

The firm plans to increase its share price by aggressively repositioning its portfolio. It will also look to pay down its debt and will launch a $20m coordinated share repurchase programme.

JPEL aims to build a more concentrated portfolio of growth-oriented investments following the sale of a range of pre-credit crisis assets on the secondary market. Unlike most other listed private equity firms, JPEL has the majority of its assets in secondary deals.

The GP also plans to repurchase $20m worth of shares in a programme managed by JP Morgan Cazenove, which will offer a discount of up to 35% compared to NAV. This constitutes JPEL's largest share buy-back on a single day. JPEL will continue to look at purchasing shares through a variety of other programmes.

JPEL's portfolio consists of buyout (59%), debt (19%), VC (10%) and real estate (9%) assets, with Europe (47%) and North America (30%) being the largest geographic exposures.

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