J.P. Morgan Asset Management Launches Growth Equity Platform as Part of J.P. Morgan Private Capital

J.P. Morgan Asset Management today announced the launch of J.P. Morgan Private Capital, which includes a new growth equity investment arm and an existing private debt business, committed to providing 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.

The investment platform will sit within J.P. Morgan Asset Management’s $168 billion Global Alternatives franchise, reporting to Anton Pil, Global Head of Alternatives. The platform includes a robust Private Debt business, led by Meg McClellan, which currently manages $15 billion in assets across corporate and asset-based lending strategies. In addition, Ms. 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.

As companies elect to remain private longer, many seek partners who can add significant value in addition to flexible capital solutions, and J.P. Morgan Private Capital will be well positioned as a preferred global partner for these firms. This new group will draw on the broader resources of J.P. Morgan to drive value in portfolio companies and will harness the firm’s unique access to technology companies to inform investment ideas and gain insights into emerging and financial technologies.

The new unit will tap into the continued growth of private markets and significant pre-IPO value creation opportunities across a range of asset classes and sectors, including consumer, technology and sustainable growth equity investing, as well as middle-market direct lending strategies.

“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.”

Source: PR Newswire