J.P. Morgan Asset Management’s Private Equity Group announced the close of its second dedicated co‑investment vehicle, PEG Co‑Investment Fund II, at $1 billion—well above the $750 million target set for the fund. The vehicle, launched in 2021, follows the first co‑investment fund, which closed at $667 million in the same year and is now fully committed.
The oversubscription reflects strong investor confidence in the group’s small‑ and middle‑market buyout strategy and its proprietary network of more than 250 sponsor relationships. By raising $1 billion, the fund expands the group’s capital base and positions it to deploy additional capital into future co‑investment opportunities across sectors and regions.
J.P. Morgan Asset Management reported $4 trillion in assets under management as of September 30, 2025, while its Private Equity Group manages $36 billion in private equity assets. The parent company, JPMorgan Chase & Co., reported $4.6 trillion in assets as of the same date, underscoring the scale of the platform that supports the new fund.
Stephen Catherwood, Co‑Head of the Private Equity Group, said the close “positions the group well for the current market environment and opportunity set.” He added that the firm will continue to leverage its team’s experience and GP network to identify attractive private companies in the small‑ and middle‑market space with strong growth potential.
The $1 billion fund strengthens J.P. Morgan’s standing as a leading global private‑equity platform, providing the resources to pursue a broader range of co‑investment deals and reinforcing confidence in its disciplined, network‑driven approach to small‑ and middle‑market buyouts.
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