Billionaire investor Leon Black agreed to pay $62.5 million to the U.S. Virgin Islands in January to be released from potential claims stemming from the territory’s three-year investigation into disgraced financier Jeffrey Epstein’s sex-trafficking operation, according to a copy of the settlement agreement.

The previously undisclosed settlement came after the Virgin Islands reached a $105 million settlement in November with Mr. Epstein’s estate. The next month, the territory sued JPMorgan Chase in federal court over its 15-year relationship with Mr. Epstein, a registered sex offender who killed himself in a Manhattan prison in 2019.

The government of the Virgin Islands produced its agreement with Mr. Black in response to a public records request by The New York Times. In January, representatives of the two parties held a private mediation session to resolve claims, according to another document reviewed by The Times. The $62.5 million settlement followed that session.

The settlement shows the extent to which Mr. Black, once a titan of the private equity industry, has limited scrutiny of his decades-long social and business ties to Mr. Epstein. Those dealings, including the revelation that he paid Mr. Epstein $158 million for tax and estate planning services, became a source of embarrassment for Mr. Black in the years after Mr. Epstein’s death.

Mr. Black, 71, was forced to step down in early 2021 as chairman and chief executive of Apollo Global Management, the giant private equity firm he co-founded. in 1990. A major art collector who made headlines for his $120 million purchase of a version of Edvard Munch’s “The Scream,” Mr. Black also stepped down as chairman of the Museum of Modern Art in New York.

The settlement said nothing in it should be interpreted as an “acceptance of liability” by Mr Black.

Venetia H. Velazquez, an attorney with the Virgin Islands attorney general’s office who negotiated the settlement, said, “Over the past several years, the Virgin Islands Department of Justice has made it a priority to support victims of human trafficking and enforce the law to prevent and deter human trafficking.”

Brad Karp, a lawyer for Mr. Black, was not immediately available for comment.

Jessica Silver-Greenberg and Maureen Farrell contributed to this report.

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