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JP Morgan raises more than $140m for two funds

2 Jan 2014

dollar envelope moneyJP Morgan’s investment management unit has raised just over $144m for two fund of funds vehicles.

JP Morgan’s Corporate Finance Institutional Investors V has secured 82.43m from four LPs and its European Corporate Finance Institutional Investors V has raised $61.82m from three investors, according to documents filed with the US Securities and Exchange Commission.

The funds have minimum investment requirements of $10m and $20m, respectively, and don’t have placement agents, the filings showed. Both vehicles registered their first commitments in December.

Back in November it was reported that JP Morgan was mulling a spinout of its private equity unit One Equity Partners.

The bank was asking prospective investors to sign letters of intent to make offers for the business in early December, according to a Dow Jones report.

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