J.P. Morgan Asset Management’s private equity group (PEG) closed its second dedicated co-investment fund, PEG Co-Investment Fund II (COIN II). COIN II closed above its $750 million target at $1 billion, including commitments from the PEG team.
“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,” Stephen Catherwood, co-head of the PEG at J.P. Morgan Asset Management, said. “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.”
The fund will be diversified across sector region, and value creation strategy. The group offered its first dedicated co-investment fund, PEG Co-Investment Fund I, in 2021 raising $667 million. That fund is now fully committed across a diverse portfolio of companies.
