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JPMorgan to break up unit’s hedge fund

Reuters – JPMorgan Chase & Co plans to shut down its Principal Investment Management Group’s hedge-fund business and private-equity division, with the exception of a team that focuses on Asia, Bloomberg said, citing two people familiar with the plan.

Bob Case, the head of Principal Investments, may be given another post, the people told the news agency, adding that most of the group’s 150 employees will move to other parts of the firm.

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