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Alternative Market Briefing

J.P. Morgan Asset Management closes $1.3n European real estate fund

Tuesday, December 11, 2018

Laxman Pai, Opalesque Asia:

JP Morgan Asset Management has raised $1.3n for its fourth European opportunistic property fund, exceeding its target by 47%.

The asset manager said in a press release that European Opportunistic Property Fund IV received the equity capital from a broad range of global international investors providing a total investment capacity of $5.3bn.

J.P. Morgan Global Alternatives, a $135bn in assets-under-management platform spanning real estate, infrastructure, transportation, hedge funds, private equity, private credit and liquid alternatives said that the Fund is focused on investing in a portfolio of wholly-owned investments and joint ventures in the office, retail, industrial and residential sectors across the European Union, with emphasis on the U.K., France and Germany, and has already committed to transactions representing over 21% of investor commitments.

Funds I, II and III in the series have delivered total returns in excess of target on realized investments. In December 2015, JP Morgan raised $940m for its third European fund.

Anton Pil, Managing Partner of J.P. Morgan Global Alternatives said: "We continue to see allocations to alternatives grow significantly as investors seek out uncorrelated and high relative value returns. Late cycle, discerning investors are expressing strong confidence in tested and proven alternatives managers with the ability and agility to deliver across market environments."

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