J.P. Morgan Asset Management’s Private Equity Group has closed PEG Co-Investment Fund II at $1bn, surpassing its $750m target.

The vehicle includes commitments from the team and will pursue small and mid-market buyouts.

The fund will invest across sectors, regions, and value-creation strategies. Its predecessor, launched in 2021 with $667m, is fully committed across a diverse portfolio.

“We are pleased to announce the close of PEG Co-Investment Fund II, a focused strategy that is well positioned for the current market environment and opportunity set,” said Stephen Catherwood, Co-Head of the Private Equity Group. He said the firm will continue to use its experience and GP network to source private companies with strong growth potential.

J.P. Morgan Asset Management’s Private Equity Group manages $36bn and works with more than 250 private equity sponsors. The platform provides a range of commingled strategies and customised mandates for global institutional and private-wealth clients.

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