J.P. Morgan Asset Management’s Private Equity Group announced it has closed its 12th flagship fund, PEG Global Private Equity XII, at $1.44 billion, exceeding its $1.25 billion target as investor appetite remains strong for diversified exposure to small and mid-market private equity managers.
The firm said the vehicle, referred to as GPE XII, is designed to give investors access to a global mix of buyout and early-stage venture capital strategies, with capital deployed through primary commitments, secondary purchases, and co-investments. The fund’s strategy centers on broad sector and geographic diversification within the small and mid-market, an area where large institutional allocators have increasingly sought scaled access while maintaining manager selectivity.
The close follows J.P. Morgan Asset Management’s prior flagship fund, PEG Global Private Equity XI, which the firm said closed at $1.28 billion in 2024. The firm positioned the latest raise as a continuation of its long-running flagship program and as evidence of sustained institutional demand for established platforms with repeatable access to private equity sponsors.
The firm’s Private Equity Group has more than four decades of experience and manages $36 billion in assets for global institutional and private wealth clients. The team also highlighted its network of more than 250 private equity sponsor relationships, which it said supports a co-investment sourcing engine alongside its commingled funds and customized mandates.
The announcement also pointed to recent fundraising momentum across the platform. The firm said it recently closed its second dedicated co-investment fund, PEG Co-Investment Fund II, at $1 billion, surpassing a $750 million target, reflecting continued investor interest in co-investment allocations that can complement primary fund exposure.
KEY QUOTES:
“We are pleased to announce the close of PEG Global Private Equity XII, reflecting strong investor demand for our flagship small and mid-market strategy. Our team’s longstanding experience and general partner (‘GP’) network allows us to continue to source compelling opportunities with strong growth potential across diverse sectors and geographies.”
Ashmi Mehrotra, Global Co-Head of J.P. Morgan Asset Management’s Private Equity Group
