J.P. Morgan AM sells Gávea Investimentos back to founders
February 23, 2016
J.P. Morgan Asset Management has agreed to sell back the private equity and hedge fund divisions of Gávea Investimentos to the Brazilian management firm's founders. The original ownership includes Arminio Fraga, the former president of the Central Bank of Brazil. The sale will not include the firm's small public equity and real estate teams. J.P. Morgan Asset Management, the investment arm of JPMorgan Chase, acquired a majority stake of Gávea in 2010.