JPMorgan gives backing to new Asian investment fund

Source: Exec Digital USA

Date :2/19/2008 10:41:02 AM

JPMorgan has said that it is to expand into Asian-Pacific private equity as it looks to capitalize on its fast-growing economy while the US faces a slowdown.

As part of its regional growth strategy, JPMorgan has said that it is committing an initial $750 million to mid-market private equity investment opportunities in Asia Pacific.

The expansion will be headed by Mr. Varun Bery and Mr. John Troy, co-founders of TVG Capital Partners. Mr. Bery and Mr. Troy will join JPMorgan as Managing Directors where they will lead a team with a broad investment mandate, including consumer, retail, industrial, healthcare, TMT and natural resources industries, focused on non-controlling investments.

‘Potential’

Commenting on the move to JPMorgan Mr. Bery said: "We see a big opportunity to enhance JPMorgan's private equity base in the region. There is significant potential to invest in our target sectors and geographies and we are looking forward to taking advantage of JPMorgan's strength to capitalize on it."

Mr. Troy added: "JPMorgan offers broad and deep reach across the region, global knowledge and excellent execution capabilities."

The International Monetary Fund has predicted that economic growth in the Asia-Pacific will outpace that of the US this year, prompting firms such as Blackstone Group LP and Citadel Investment Group to increase their interests in the region.

February 19, 2008