J.P. Morgan Asset Management's Private Equity Group Closes Co-Investment Fund II Above Target at $1 Billion

Rhea-AI Summary

J.P. Morgan Asset Management Private Equity Group (JPM) announced on November 19, 2025 the close of PEG Co-Investment Fund II (COIN II) at $1.0 billion, above its $750 million target, including commitments from the PEG team. COIN II will focus on the group's long-standing small- and middle-market buyout strategy and will be diversified by sector, region, and value-creation approach.

The group noted its prior dedicated co-investment vehicle, PEG Co-Investment Fund I, raised $667 million in 2021 and is now fully committed. PEG manages $36 billion in private equity assets and leverages a proprietary network of 250+ sponsor relationships. J.P. Morgan Asset Management reported $4 trillion AUM as of 9/30/2025; JPMorgan Chase reported $4.6 trillion in assets as of 9/30/2025.

Positive

• Fund close at $1.0B, >33% above $750M target
• Team commitment included in the $1.0B close
• Track record: Fund I raised $667M in 2021 and is fully committed
• Scale: PEG manages $36B in private equity assets
• Sourcing: 250+ private equity sponsor relationships

Negative

• None.

Insights

Private Equity Strategist

JPM PEG closed a $1B co-invest fund above target, signalling strong LP demand and reinforced GP sourcing strength.

The close of PEG Co-Investment Fund II at $1 billion versus a $750 million target demonstrates clear capital demand for the group’s small‑ and middle‑market co‑investment strategy. The fund’s explicit diversification across sector, region and value‑creation approach and the team’s committed capital align incentives between managers and limited partners.

Key dependencies and risks include execution of deal selection through the stated 250+ sponsor relationships and the pace at which the fund deploys capital into suitable co‑investments; slow deployment or weaker-than-expected exits would mute returns. Monitor near‑term portfolio construction updates, any disclosed initial commitments, and deployment pacing over the next 12–24 months to assess whether the fund translates strong fundraising into differentiated, value‑creating exposures.

The fund will focus on the group's long-standing small- and middle-market buyout strategy

NEW YORK, Nov. 19, 2025 /PRNewswire/ -- J.P. Morgan Asset Management's Private Equity Group ("PEG") today announced the closing of its second dedicated co-investment fund, PEG Co-Investment Fund II ("COIN II"). COIN II closed above its $750 million target at $1 billion, including commitments from the PEG team.

"We are pleased to announce the close of PEG Co-Investment Fund II, a focused strategy that is well positioned for the current market environment and opportunity set," said Stephen Catherwood, Co-Head of J.P. Morgan Asset Management's Private Equity Group. "We will continue to leverage our team's experience and general partner ("GP") network to identify attractive private companies in the small and middle market that have strong growth potential."

The fund will be diversified across sector, region, and value creation strategy. The group offered its first dedicated co-investment fund, PEG Co-Investment Fund I, in 2021 raising $667 million. That fund is now fully committed across a diverse portfolio of companies.

J.P. Morgan Asset Management's Private Equity Group is a longstanding investor with over four decades of experience, managing $36 billion in assets on behalf of global institutional and private wealth clients. The team has been an active strategic partner to a proprietary network of 250+ private equity sponsor relationships, creating a robust co-investment sourcing engine. The team offers investors various entry points to the platform, including a range of commingled strategies and customized mandates.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $4 trillion (as of 9/30/2025), 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. For more information: www.jpmorganassetmanagement.com.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $4.6 trillion in assets and $360 billion in stockholders' equity as of September 30, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available

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SOURCE J.P. Morgan Asset Management

FAQ

What size did PEG Co-Investment Fund II (COIN II) close at and when did it close?

COIN II closed at $1.0 billion on November 19, 2025, above a $750 million target.

What investment strategy will COIN II pursue for investors in JPM (NYSE: JPM)?

COIN II will target the group's long-standing small- and middle-market buyout strategy and will be diversified across sector, region, and value-creation approach.

Does COIN II include commitments from J.P. Morgan Asset Management's Private Equity Group team?

Yes. COIN II closed at $1.0 billion including commitments from the PEG team.

How does COIN II compare with PEG Co-Investment Fund I?

Fund II closed at $1.0B vs Fund I which raised $667M in 2021; Fund I is now fully committed.

How large is J.P. Morgan Asset Management and PEG's private equity platform?

J.P. Morgan Asset Management reported $4 trillion AUM as of 9/30/2025 and the Private Equity Group manages $36 billion in assets.