Monday, April 15, 2013

The Strange Case of JPMorgan's Vanishing $327 Million

From Hereisthecity: The bank's private equity portfolio saw a huge write down in the first quarter of 2013.

The bank reported  Friday that its private equity division reported a net loss of $182 million for the first quarter, compared with profit of $134 million for the same period in the prior year. Net revenue was a loss of $276 million, compared with net revenue of $254 million in the prior year. The bank said these losses arose "primarily due to higher net valuation losses on private investments."

No comments:

Post a Comment