Dow Jones

NEW YORK - Chase Manhattan Corp. plans to raise as much as $5 billion for a global private equity fund that would invest in buyouts, venture capital, and other private-equity deals in the United States and overseas, said people familiar with its plans.

Word of the new fund is causing a stir among investors, in part because the banking giant typically funds its private-company deals with its own capital. But analysts say Chase is now turning to outside investors, both to capitalize on the growing interest in private equity and because it sees deal opportunities that exceed the capacity of its balance sheet.

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