JP Morgan completed the acquisition of a 61% stake Forest Investments from Great Elm Group for $18m.

JP Morgan, a financial holding company, completed the acquisition of a 61% stake Forest Investments, a private equity firm, from Great Elm Group, an investment management company, for $18m. “The Forest transaction represents a successful outcome for Great Elm’s shareholders. This marks the latest in a series of strategic actions taken to enhance our focus and capabilities across our core investment management strategy. We are pleased to have worked with JPM as a financial partner in Forest. This transaction underscores the ability for Great Elm to raise capital as it looks to grow its investment management business,” Jason Reese, GEG Executive Chairman.