- J.P. Morgan Asset Management announced the final closing of the Lynstone Special Situations Fund with $1.06 billion in capital raised from a broad set of global investors
J.P. Morgan Asset Management has announced the final closing of the Lynstone Special Situations Fund with $1.06 billion in capital raised from a broad set of global investors comprising of pension funds, insurance companies, banks, foundations, endowments and family offices across the Americas, Europe, the Middle East, and Asia. And over half of investors are first-time investors in a J.P. Morgan Alternatives fund.
The Lynstone fund will invest in stressed, distressed, and event-driven situations across North American and European private and public credit markets where underlying assets are discounted due to illiquidity or market disruption and where an event or catalyst has the strong potential to drive a positive total return.
Lynstone — which surpassed its $750 million target — represents the first special situations fund from J.P. Morgan Global Alternatives. Global Alternatives is a $146 billion platform that spans real estate, infrastructure, transportation, hedge funds, private equity, private credit, and liquid alternatives.
“In the current late-cycle market, we see significant investment opportunities in both the North American and European private credit markets, including providing bespoke solutions to companies in need of liquidity or capital structure solutions,” said Brad Demong, Co-CIO, Global Special Situations at J.P. Morgan Asset Management.
As a whole, J.P. Morgan Asset Management has $1.9 trillion in assets under management (as of September 30, 2019). And J.P. Morgan Asset Management’s clients include institutions, retail investors, and high net worth individuals in every major market throughout the world.
“The flexible nature of the Lynstone Fund allows us to invest opportunistically across the capital structure to take advantage of both the current environment and any future downturn. The significant demand for Lynstone demonstrates the confidence investors have in our 16-year investment strategy to drive performance across the credit cycle,” added Leander Christofides, Co-CIO Global Special Situations at J.P. Morgan Asset Management.
