JPMorgan Asia Pacific Launches US$750 Million Expansion Into Private Equity
18/02/2008 23:02
PR Newswire
HONG KONG, February 18 /PRNewswire/ -- JPMorgan Asia Pacific ("JPMorgan") today announced a major
expansion into private equity investment, as part of its regional growth
strategy. The firm is committing an initial US$750 million to mid-market
private equity investment opportunities in Asia Pacific.
The expansion will be headed by Mr. Varun Bery and Mr. John
Troy, co-founders of TVG Capital Partners. Mr. Bery and Mr. Troy will join
JPMorgan as Managing Directors where they will lead a team with a broad
investment mandate, including consumer, retail, industrial, healthcare, TMT
and natural resources industries, focused on non-controlling investments.
Private equity investments will give JPMorgan the opportunity
to strengthen its relationship with existing corporate and financial sponsor
clients by offering the ability to co-invest with them and provide growth
capital. The business will benefit from JPMorgan's global investment banking
platform, sector expertise and research capabilities. The team will be the
Asian arm of JPMorgan's Private Equity Principal Investments business, which
is headed by Mr. Bob Case in New York.
Mr. Gaby Abdelnour, the Chairman and Chief Executive Officer
of JPMorgan Asia Pacific said the expansion would strengthen the firm's
ability to capture investment opportunities in the region and build on
existing client relationships. "This investment is part of our intensified
growth strategy in Asia Pacific. It offers JPMorgan huge potential in the
private equity market by allowing us to rapidly accelerate expansion and
seize growth opportunities."
Mr. Abdelnour added: "I'm pleased that Varun and John are
joining JPMorgan in this exciting expansion. The combination of their
knowledge and experience of Asia Pacific markets and JPMorgan's regional and
global financial services platform will ensure rapid expansion of our private
equity business."
Commenting on the move to JPMorgan Mr. Bery said: "We see a
big opportunity to enhance JPMorgan's private equity base in the region.
There is significant potential to invest in our target sectors and
geographies and we are looking forward to taking advantage of JPMorgan's
strength to capitalize on it." Mr. Troy added: "JPMorgan offers broad and
deep reach across the region, global knowledge and excellent execution
capabilities."
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial
services firm with assets of US$1.6 trillion and operations in more than 60
countries. The firm is a leader in investment banking, financial services for
consumers, small business and commercial banking, financial transaction
processing, asset management, and private equity. A component of the Dow
Jones Industrial Average, JPMorgan Chase serves millions of consumers in the
United States and many of the world's most prominent corporate, institutional
and government clients under its JPMorgan and Chase brands. In Asia Pacific,
the firm is based in Hong Kong and operates in 14 countries and has 25
offices. Information about the firm is available at
http://www.jpmorganchase.com.
Press Contacts:
Ray Bashford,
Head of Corporate Communications, JPMorgan Asia Pacific,
Tel: +852-2800-1310 (office),
+852-9318-3711 (mobile),
Ray.b.bashford@jpmorgan.com;
Marie Cheung,
Corporate Communications, JPMorgan Asia Pacific,
Tel: +852-2800-1303 (office),
+852-9750-5170 (mobile),
Marie.w.cheung@jpmorgan.com.
Press Contacts: Ray Bashford, Head of Corporate Communications, JPMorgan Asia Pacific, Tel: +852-2800-1310 (office), +852-9318-3711 (mobile), Ray.b.bashford@jpmorgan.com; Marie Cheung, Corporate Communications, JPMorgan Asia Pacific, Tel: +852-2800-1303 (office), +852-9750-5170 (mobile), Marie.w.cheung@jpmorgan.com.