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Laxman Pai, Opalesque Asia: J.P. Morgan (JPM) Asset Management said Monday it raised $2.4bn at its final closing for Lynstone Special Situations Fund, exceeding its $2bn target.
The Lynstone II fund is the second fund from JPM's Global Special Situations team that has $3.5 billion in assets under management. The GSS team is led by Co-CIOs Leander Christofides and Brad Demong. The GSS team operates as part of J.P. Morgan Global Alternatives, a $218 billion platform spanning real estate, infrastructure, transportation, hedge funds, private equity, private credit, and liquid alternatives.
The fund intends to invest in stressed, distressed, and event-driven situations in European and North American private and public markets across the capital structure, "where underlying assets are potentially discounted due to illiquidity or market disruption and where an event or catalyst has a strong potential to drive a positive total return," the company said.
The fund raised capital from a wide range of institutional investors including pension funds, insurance companies, foundations endowments, and wealth managers in the Americas, Europe, Australia, and Asia.
"We believe that GSS is well-positioned to invest dynamically in market-driven and bespoke private market investments globally to drive strong returns for our investors," said Brad Demong, Co-CIO, Global Special Situations, J.P. Morgan Asset Management.
Leander Christofides, Co-CIO, Global Special Situations, J...................... To view our full article Click here
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