Summary
The Chase Manhattan Corporation (now part of JPMorgan Chase & Co.) filed an 8-K on November 28, 2000, disclosing its intention to launch a new private equity fund through its Chase Capital Partners (CCP) division. This fund is designed to co-invest alongside CCP in a significant portion of its direct private equity and equity-related investments. Investors unaffiliated with Chase will have the opportunity to participate in this new fund.
Key Highlights
- 1Chase Capital Partners (CCP) plans to offer limited partnership interests in a new private equity fund to external investors.
- 2The new fund will co-invest alongside CCP in direct private equity and equity-related investments.
- 3Chase intends to commit at least $8.0 billion to CCP over a five-year investment period for direct investments made alongside the new fund.
- 4Specific commitments include at least $2.0 billion for calendar year 2001 and at least $1.5 billion annually for calendar years 2002 through 2005.
- 5Chase will also continue to provide funds to CCP for investments where the new fund will not participate.
- 6Exhibit 99.1 provides a detailed summary of CCP's historical direct private equity investment performance, though past results are not indicative of future performance.
- 7Valuations in Exhibit 99.1 may differ materially from those in Chase's financial statements due to different valuation policies.