JP Morgan Asset Management appoints Head of Private Credit
JP Morgan Asset Management has appointed Meg McClellan as Head of Private Credit in the firm's Global Alternatives group, effective 1 January, 2020, to lead the firm's major expansion in Private Credit.
In the newly-created role, McClellan will oversee the firm's Global Special Situations, Infrastructure Debt and Commercial Mortgage Loan businesses and lead the firm's development of new private credit solutions. She will be responsible for private credit platform growth, both organic and inorganic. McClellan currently serves as JP Morgan Asset Management's Chief Financial Officer.
With USD146 billion in alternative assets under management, JP Morgan Asset Management has built one of the industry's broadest alternative offerings and is a leader in the real estate, hedge fund, private equity, infrastructure and other real assets spaces. The firm recently announced the close of its Lynstone Global Special Situations fund, raising over USD1 billion and surpassing its target by 40 per cent.
"We see private credit as an essential source of income and return in investors' portfolios and we are firmly committed to building out our capabilities to enable our clients to take full advantage of the investment opportunities that exist in private markets," says Anton Pil, Head of Global Alternatives at JP Morgan Asset Management. "At this point in the economic cycle, we are particularly focusing our energies on the strongly collateralised end of the private credit spectrum and are seeing demand in real estate mezzanine debt, infrastructure debt, commercial mortgages, funds of funds, direct lending and special situation strategies."
"The establishment of a new Head of Private Credit role is a testament to our concerted focus on curating a diverse, industry-leading team, and we couldn't be more pleased to have Meg leading our efforts to build on our USD10 billion and growing of private credit assets to become a leader in the nearly USD1 trillion private credit market."
Prior to becoming Asset Management CFO in 2016, McClellan spent the majority of her career in fixed income trading, portfolio management and investment strategy roles, with experience on both the buy side and the sell side, and in New York, Chicago and London.
"Meg is a highly regarded leader in the asset management industry, and her significant investment, markets, operational and risk management expertise will be critical in growing our private credit offering and allowing us to deliver new and innovative solutions to clients," says Pil.