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Sankaty to buy JPMorgan debt portfolio for $1 billion: FT


    (Reuters) - Bain Capital's credit arm, Sankaty Advisors, is buying the debt portfolio of JPMorgan's principal investment group for more than $1 billion, the Financial Times reported.

    Sankaty won an auction for JPMorgan Chase & Co's Global Special Opportunities Group portfolio, which contains junior loans in North America and Europe as well as securities in Asia and Australia, the newspaper said. (http://on.ft.com/1AnRNHZ)

    The deal is set to be announced on Monday, FT said.

    Sankaty, which has $24 billion under management, is likely to hire many of the JPMorgan employees who built the portfolio, the report said.

    (Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar Warrier)