JP Morgan Asset Management has held the final closing of its Lynstone Special Situations Fund (Lynstone), with USD1.06 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 JP 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 USD750 million target, represents the first special situations fund from JP Morgan Global Alternatives, a USD146 billion platform spanning real estate, infrastructure, transportation, hedge funds, private equity, private credit and liquid alternatives.
“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,” says Brad Demong (pictured), Co-CIO, Global Special Situations, JP Morgan Asset Management.
Leander Christofides, Co-CIO Global Special Situations, JP Morgan Asset Management, says: “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.”