J.P. Morgan Asset Management Launches Growth Equity Platform
J.P. Morgan Asset Management has launched J.P. Morgan Private Capital, which includes a new growth equity investment arm and an existing private debt business which provides customized solutions for early and growth stage companies across the capital structure. The group will be focused on institutional and high-net-worth clients and will also have the ability to invest the firm’s capital alongside investors.
J.P. Morgan Private Capital will be led by Brian Carlin, previously CEO of Wealth Management Solutions at J.P. Morgan, with Rick Smith, former Head of Private Investments at JPMorgan Chase, serving as Chairman of the group, and Meg McClellan, serving as the Head of Private Debt.
JPMAM has also hired Christopher Dawe from Goldman Sachs as Managing Partner to lead the technology and consumer growth equity business. During his time at Goldman Sachs, Dawe spent 15 years investing in private companies and co-headed the Venture Capital and Growth Equity business within Goldman Sachs Investment Partners. His investments have included Spotify, Plaid, Ring, Pinterest, Compass, Uala and Built Technologies, among other companies.
In addition, Osei Van Horne has joined J.P. Morgan Private Capital as Managing Partner to lead investments across industries with an initial focus on climate action and inclusive economic growth. Van Horne joins from Wells Fargo where he co-founded the technology growth equity practice. His previous investments have included Flexport, Notarize, BMC Software and Industrious, among other companies.
The investment platform will sit within J.P. Morgan Asset Management’s $168bn Global Alternatives franchise, reporting to Anton Pil, Global Head of Alternatives. The platform includes a private debt business, led by Meg McClellan, which currently manages $15bn in assets across corporate and asset-based lending strategies. In addition, McClellan will lead J.P. Morgan Private Capital’s efforts to build out a new direct lending business focusing initially on middle-market corporate direct lending across North America.
“J.P. Morgan Private Capital will harness JPMorgan Chase’s unparalleled scale, network and resources to deliver a best-in-class growth equity and private debt investment platform,” said Mary Erdoes, Chief Executive Officer, J.P. Morgan Asset & Wealth Management. “By combining our debt and equity capabilities, we are ideally positioned to help companies and clients from around the globe access liquidity and investment opportunities across capital markets.”
“Growth equity and private debt are among the fastest-growing asset classes in the alternatives industry, with strong demand from both individual and institutional investors to look beyond public markets,” said Brian Carlin, Chief Executive Officer, J.P. Morgan Private Capital. “We are committed to establishing long-term relationships with innovative private companies, and J.P. Morgan Private Capital is focused on creating discernable value for these companies across their lifecycle.”
“The launch of J.P. Morgan Private Capital reflects the increasing client demand for alternative asset classes and our focus on providing clients with new opportunities to enhance portfolio returns through private markets,” said Anton Pil, Head of Global Alternatives at J.P. Morgan Asset Management. “We look forward to continuing to expand our capabilities across the Global Alternatives franchise in the coming months to meet client needs and seize market opportunities.”
© The Sortino Group Ltd
All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency or other Reprographic Rights Organisation, without the written permission of the publisher. For more information about reprints from AlphaWeek, click here.