HONG KONG, Feb. 18 /CNW/ - 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
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
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.
For further information:
For further information: Press Contacts: Ray Bashford, Head of Corporate
Communications, JPMorgan Asia Pacific, Tel: +852-2800-1310 (office),
+852-9318-3711 (mobile), Ray.firstname.lastname@example.org; Marie Cheung, Corporate
Communications, JPMorgan Asia Pacific, Tel: +852-2800-1303 (office),
+852-9750-5170 (mobile), Marie.email@example.com.