JPMorgan Asset Management Closes $1.06 Billion Special Situations Fund

More than half of investors are first-time investors in a J.P. Morgan Alternatives fund.

JP Morgan Asset Management closed its Lynstone Special Situations fund. The fund raised $1.06 billion for the Luxembourg-domiciled strategy that focuses on stressed, distressed and event-driven situations in North America and Europe. The press release below offers a full recap of its closing, investors, and strategy.

NEW YORK, Oct. 28, 2019 /PRNewswire/ — JP Morgan Asset Management today announced the final closing of its Lynstone Special Situations Fund (“Lynstone”), 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. More than half of investors are first-time investors in a J.P. Morgan Alternatives fund.

Lynstone 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, a $146 billion platform spanning real estate, infrastructure, transportation, hedge funds, private equity, private credit and liquidalternatives.

“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, J.P. Morgan Asset Management.

Leander Christofides, Co-CIO Global Special Situations, J.P. Morgan Asset Management said, “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.”

About J.P. Morgan Global Alternatives 

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $146 billion in assets under management and 750 professionals (as of September 30, 2019), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 18 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information:

About JP Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $1.9 trillion (as of September 30, 2019), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity.

Securities products, if presented in the U.S., are offered by J.P. Morgan Institutional Investments, Inc., member of FINRA.

Related: JP Morgan: Fund Flows May Point to Higher Recession Risk

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