JPM Private Equity completes fund raising

The London-listed J.P. Morgan Private Equity has completed its latest round of fundraising, exceeding its target of $50m by $25m.

It says the fundraising, which began in June, aims to generate ready capital to purchase secondary private equity portfolios at a period when valuations remain low. "We look forward to investing in what we hope to be accretive secondary investments that generate value for our shareholders," portfolio manager Troy Duncan says. "We believe that the current market for secondary private equity investments represents a significant opportunity for the trust to deploy capital at favourable valuations." The trust closed at $1.01 per equity share on 11 August as the fundraising closed, repr...