J.P. Morgan Launches ’40 Act Private Equity Fund for Individual and Institutional Investors
The Private Equity Group of J.P. Morgan Asset Management announced the launch of JPMorgan Private Markets Fund, a 1940 Act-registered, evergreen private equity fund.
The company says the fund is designed to provide access to private equity investments for qualified and accredited individual and institutional clients. JPMorgan Private Markets Fund’s features include a $25,000 investment minimum, no capital calls, tax reporting and potential for quarterly liquidity. The fund is currently available on select private bank and custodial platforms but the company says availability will expand in 2024.
“The launch of JPMF aligns with our long-term vision to lead the global democratization of alternatives, building on our offerings across real estate, real assets, hedge funds and liquid alternatives,” said Anton Pil, global head of alternatives, J.P. Morgan Asset Management. “Private equity has traditionally been difficult for individuals to access, so we’re thrilled to deliver our institutional-grade private equity investment expertise to this investor base through JPMF.”
This is the second foray into the retail investment channel in in recent months by J.P. Morgan, which launched a non-traded REIT earlier this year as reported by The DI Wire. J.P. Morgan Real Estate Income Trust Inc. was declared effective by the Securities and Exchange Commission on July 22, 2023.
“We are witnessing increased demand from all investor types to look beyond public markets for access to compelling private company investment opportunities, and the launch of JPMF is an important step in expanding access to the potential long-term return and volatility benefits of private equity,” said Ashmi Mehrotra, co-head of PEG at J.P. Morgan Asset Management. “Investment selection remains critical in small and middle market companies, where private equity ownership can drive transformational business improvements to accelerate growth, without reliance on financial engineering. Our experienced, diverse and global team is ideally positioned to seek the highest conviction investments in this segment.”
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 60 years as an alternative’s investment manager, $213 billion in assets under management and more than 800 professionals as of June 30, 2023, J.P. Morgan Global Alternatives focuses on the alternative investment spectrum including real estate, private equity, private credit, hedge funds, infrastructure, transportation, timber and liquid alternatives.
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