NEW YORK - Chase Manhattan Corp. will not sell Chase Capital Partners, its private equity investment business, or leave the business, according to a statement by the company filed Wednesday with the Securities and Exchange Commission.
The company said this year that it would explore its options regarding Chase Capital in order to maximize the unit's benefit to shareholders. A tracking stock for Chase Capital is still a possibility.
In the SEC filing, Chase said it is continuing to explore ways to present the unit's volatile financial statements to analysts and investors on a quarterly basis.
"CCP is a business with a consistent track record of providing excellent returns to shareholders over a long period of time," the filing said, "fully compensating for the additional volatility it contributes to Chase's earnings."