Bain to buy JPMorgan loans

Investor's Business Daily

JPMorgan Chase (JPM) said it agreed to sell $1.3 bil worth of loans and other securities to Sankaty Advisors, a unit of Bain Capital. The portfolio represents the entirety of JPMorgan's Global Special Opportunities Group and contains mezzanine loans in N. America and Europe. Loans and other investments from Australia and Asia reportedly are included in the portfolio as well. Sankaty recently purchased loan portfolios from Lloyds Banking Group, Irish Bank Resolution Capital and CapitalSource. JPMorgan Chase shares fell 0.3%.

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