J.P. Morgan Asset Management Launches Growth Equity Platform as Part of J.P. Morgan Private Capital
Firm hires two new Managing Partners, Christopher Dawe and Osei Van Horne, to lead new growth equity initiatives
NEW YORK, June 7, 2021 /PRNewswire/ -- 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 firm is also pleased to announce the hiring of Christopher Dawe from Goldman Sachs as Managing Partner to lead the technology and consumer growth equity business. During his time at Goldman Sachs, Mr. 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 joins J.P. Morgan Private Capital as Managing Partner to lead investments across industries with an initial focus on climate action and inclusive economic growth. Mr. 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. In 2020 and 2019, Mr. Van Horne was named as one of the top 50 global principal investors by Global Corporate Venturing. (Full biographies included below.)
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."
J.P. Morgan Private Capital – Biographies
About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 50 years as an alternatives investment manager, $168 billion in assets under management and more than 600 professionals (as of March 31, 2021), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, hedge funds, infrastructure, transportation and liquid alternatives. Operating from offices throughout the Americas, Europe and Asia Pacific, our 15 independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client's specific objectives.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of USD 2.5 trillion (as of 31 March 2021), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co., and its affiliates worldwide.
SOURCE J.P. Morgan Asset Management
Company Codes: NYSE:JPM
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