JPMorgan Chase’s (JPM) private equity arm said Tuesday it has raised $1.44B for its 12th flagship fund, surpassing its $1.25B goal.
The new PEG Global Private Equity XII (“GPE XII”) fund will be globally diversified across buyout and early-stage venture capital strategies through primary investments, secondaries and co-investments.
GPE XII’s above-target close reflects “strong investor demand for our flagship small and mid-market strategy,” said Ashmi Mehrotra, global co-head of J.P. Morgan Asset Management’s Private Equity Group.
The previous flagship fund of J.P. Morgan Asset Management’s Private Equity Group (“PEG”), PEG Global Private Equity XI, closed at $1.28B last year.
The move comes after PEG recently announced the close of its second dedicated co-investment fund, PEG Co-Investment Fund II, above its $750M target at $1B. The JPMorgan AM (JPM) unit manages $36B in assets on behalf of global institutional and private wealth clients.