Sankaty to acquire JPMorgan portfolio for $1B

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

Bain Capital's credit arm, Sankaty Advisors, is buying the debt portfolio of JPMorgan's (NYSE:JPM) principal investment group for more than $1B.

The portfolio contains junior loans in North America and Europe as well as securities in Asia and Australia.

Sankaty, which has $24B under management, is likely to keep many of the employees who built the portfolio