Top private equity news of the week

J.P. Morgan Asset Management’s Private Equity Group has closed its 12th flagship fund, Global Private Equity XII, above target at $1.44bn.

The close exceeded the vehicle’s original $1.25bn fundraising target.

The firm said the outcome reflects sustained investor appetite for its global small and mid-market private equity strategy. The fund will pursue buyout and early-stage venture capital opportunities through a mix of primary commitments, secondaries, and co-investments.

Germany’s government is launching a “Germany Fund” designed to mobilise up to $152bn in private investment for higher-risk projects, according to a report by the Financial Times.

The initiative aims to support infrastructure, defence, energy, and technology investment.

The fund will be anchored by state development bank KfW and led by its chief executive, Stefan Wintels. It will be seeded with around $35bn in public capital and loan guarantees.

Kering and Ardian have finalised a $900m joint venture agreement covering a flagship retail property on Fifth Avenue in New York.

The transaction deepens the partners’ collaboration and marks Ardian’s first real estate investment in the United States.

Under the agreement, Ardian holds a 60% stake in the newly created vehicle, while Kering retains the remaining 40%. The asset, located at 715–717 Fifth Avenue, comprises approximately 115,000 square feet of multi-level luxury retail space on one of the world’s most prominent shopping streets.