JP Morgan Asset Management (AM), in partnership with fintech platform iCapital Network Canada, has announced launching its first private markets fund designed for Canadian accredited investors.
The JP Morgan Private Markets Strategy will provide its target investors expanded access to private market opportunities and services, including JP Morgan’s $31B AUM private equity team, through its non-diversified, closed-end investment manager iCapital PEG Evergreen Private Equity CAD Fund.
The strategy in partnership with iCapital is driven by “significant demand” by Canadian investors “to go beyond the public markets and introduce alternative investments” to their portfolios, according to JP Morgan AM Head of Canada Travis Hughes. Private Markets Fund portfolio manager Ashmi Mehrotra added that the firm’s private markets unit is “equipped to capitalize on the potential outperformance that small and middle-market buyouts offer,” which comprise the bulk of transactions in the general private equity landscape.
This move is the most recent partnership after a similar collaborative endeavor in March by iCapital and JP Morgan, which has been a strategic investor in the Canadian fintech alts platform since 2018, targeting expanded access to private markets in the Asia Pacific region. Per the latest Dakota data, the wirehouse’s asset management unit oversees approximately $3.3T in aggregate assets.
Source: https://www.newswire.ca/news-releases/j-p-morgan-asset-management-introduces-new-private-markets-fund-to-canada-898462851.html
