JPMorgan Chase is close to a deal to sell half its private equity business, One Equity Partners, the Wall Street Journal reported, citing people familiar with the matter.
JPMorgan is in advanced discussions with investment firms Lexington Partners and Carlyle Group's unit AlpInvest Partners, the people said.
Read MoreCramer:2 private equity takeover targets?
JPMorgan has no plans to invest in One Equity funds in the future, the Journal said citing the people.
Reuters had earlier reported that One Equity Partners had investments valued at more than $4 billion, according to sources.
The bank announced last July it was spinning off One Equity, its last remaining private equity operation, because the unit was not core.
Read MorePrivateequity M&A: Still a risky game
Representatives for JPMorgan and Lexington Partners were unavailable for comment.
A spokesperson for Carlyle Group declined to comment.
—By Reuters