J.P. Morgan Asset Management has closed its oversubscribed fourth European opportunistic property fund at $1.3 billion. The fund is focused on investing in the office, retail, industrial and residential sectors across the European Union, with emphasis on the U.K., France and Germany.
NEW YORK, Dec. 10, 2018 /PRNewswire/ — J.P. Morgan Asset Management today announced the final closing of its European Opportunistic Property Fund IV with $1.3 billion in equity capital from a broad range of global international investors providing a total investment capacity of $5.3 billion.
The Fund, which was oversubscribed by 47%, is the fourth in a series of European opportunistic real estate closed-end vehicles from J.P. Morgan Global Alternatives, a $135 billion in assets-under-management platform spanning real estate, infrastructure, transportation, hedge funds, private equity, private credit and liquid alternatives. 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.
“We continue to see allocations to alternatives grow significantly as investors seek out uncorrelated and high relative value returns,” said Anton Pil, Managing Partner of J.P. Morgan Global Alternatives. “Late cycle, discerning investors are expressing strong confidence in tested and proven alternatives managers with the ability and agility to deliver across market environments.”
“In the face of Brexit, trade wars and varying degrees of political and economic turmoil, we are not relying on macroeconomic tailwinds in European real estate to drive returns. Instead, results will be achieved by identifying mispriced and/or underinvested assets, curing their ills through intensive asset management and delivering high quality properties that credit tenants and core investors are seeking,” said Peter Reilly, CEO and head of Real Estate Europe for J.P. Morgan Asset Management.
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 $135 billion in assets under management and over 800 professionals (as of September 30, 2018), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 23 offices throughout the Americas, Europe and Asia Pacific, our 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. For more information: www.jpmorganassetmanagement.com.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.8 trillion (as of September 30, 2018), 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.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion (as of September 30, 2018) 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.