TA Associates has reportedly sold 26 million shares of portfolio company Jupiter Fund Management (LSE: JUP), a U.K.-based asset manager. The offering netted approximately £82.68 million ($125.9 million) for the firm, and brought its 22% stake in the company down to 13.3%. TA Associates, a Boston-based private equity firm, invested jointly with company management and AlpInvest Partners in 2007; the company went public in 2010. TA previously sold shares in the company through a May 2011 secondary offering. Jupiter focuses primarily on managing equity investments on behalf of retail, institutional and private client investors across a wide range of products.