JPMorgan Asia Pacific has announced a major expansion into private equity investment, as part of its regional growth strategy, with the commitment of an initial USD750m to mid-market priva
JPMorgan Asia Pacific has announced a major expansion into private equity investment, as part of its regional growth strategy, with the commitment of an initial USD750m to mid-market private equity investment opportunities in the region.
The expansion will be headed by Varun Bery and John Troy, co-founders of TVG Capital Partners, who will join JPMorgan as managing directors to lead a team with a broad investment mandate focused on non-controlling investments in the consumer, retail, industrial, healthcare, technology, media, telecoms and natural resources industries.
JPMorgan says private equity investments will enable it to strengthen its relationship with corporate and financial sponsor clients by providing the ability to co-invest with them and provide growth capital.
The business will benefit from JPMorgan’s global investment banking platform, sector expertise and research capabilities. The team will be the Asian arm of JPMorgan’s private equity principal investments business, which is headed by Bob Case in New York.
According to Gaby Abdelnour, chairman and chief executive of JPMorgan Asia Pacific, the expansion will strengthen the firm’s ability to capture investment opportunities in the region and build on existing client relationships.
‘This investment is part of our intensified growth strategy in Asia Pacific,’ he says. ‘It offers JPMorgan huge potential in the private equity market by allowing us to rapidly accelerate expansion and seize growth opportunities.
‘I’m pleased that Varun and John are joining JPMorgan in this exciting expansion. The combination of their knowledge and experience of Asia-Pacific markets and JPMorgan’s regional and global financial services platform will ensure rapid expansion of our private equity business.’
Bery says: ‘We see a big opportunity to enhance JPMorgan’s private equity base in the region. There is significant potential to invest in our target sectors and geographies and we are looking forward to taking advantage of JPMorgan’s strength to capitalise on it.’
JPMorgan Chase has assets of USD1.6trn and operations in more than 60 countries, and is active in investment banking, consumer financial services, small business and commercial banking, financial transaction processing, asset management and private equity. It has 25 offices in 14 Asia-Pacific countries and regional headquarters in Hong Kong.
