J.P. Morgan Asset Management’s Private Equity Group has closed its second dedicated co-investment vehicle, PEG Co-Investment Fund II, at $1 billion, surpassing its original $750 million fundraising target. The close marks a significant expansion of the firm’s long-standing small- and middle-market buyout strategy, which remains a central focus of the Private Equity Group’s investment platform.
The new fund, which includes commitments from the PEG team, will invest across a diversified mix of sectors, geographic regions, and value creation strategies. The close follows the launch of PEG Co-Investment Fund I in 2021, which raised $667 million and is now fully committed across a broad portfolio of companies.
With over 40 years of private equity investing experience, J.P. Morgan Asset Management’s Private Equity Group manages $36 billion in assets for institutional and private wealth clients. The team works closely with a proprietary network of more than 250 private equity sponsor relationships, enabling a substantial pipeline of co-investment opportunities. Investors in the platform gain access through a range of commingled funds and customized mandates.
J.P. Morgan Asset Management oversees $4 trillion in assets as of September 30, 2025, serving institutional, retail, and high-net-worth investors across global markets. Its investment capabilities span equities, fixed income, real estate, hedge funds, private equity, and liquidity strategies. Parent company JPMorgan Chase & Co. had $4.6 trillion in assets and $360 billion in stockholders’ equity as of the exact date and operates globally across consumer banking, commercial banking, investment banking, asset management, and financial transaction processing.
KEY QUOTES:
“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.”
“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.”
Stephen Catherwood, Co-Head of J.P. Morgan Asset Management’s Private Equity Group
