J.P. Morgan Private Equity trust to buy Arch cru assets

The board of the Guernsey-based private equity fund of funds said it was buying assets from the Private Equity (PE1) IC cell, as well as from SPL Private Equity (PE2) and SPL Integrated Finance. It will pay £36.7m in US dollar equity shares in the deal, with the remaining £19.8m given to the cells in the form of zero dividend preference shares. The zeros will give the former Arch cru cells a stake in the J.P. Morgan Private Equity trust, while the £36.7m is expected to be returned to shareholders via the cells as a cash lump sum by year end. The sale should speed up the process of ...