J.P. Morgan Asset Management’s Private Equity Group closed its 12th flagship fund, PEG Global Private Equity XII, on December 16, 2025, raising $1.44 billion—$190 million above the $1.25 billion target set at launch. The close adds to the firm’s private‑equity capital base and positions it to pursue additional transactions in the coming years.
The new fund follows PEG Global Private Equity XI, which closed at $1.28 billion in 2024, and comes on the heels of the Co‑Investment Fund II, which closed at $1 billion, surpassing its $750 million target. J.P. Morgan Asset Management manages $36 billion in private‑equity assets and $4 trillion in total assets under management, underscoring the scale of its investment platform and the confidence investors place in its team and network of over 250 private‑equity sponsors.
PEG Global Private Equity XII focuses on small‑ and mid‑market buyouts worldwide, targeting sectors that have historically delivered high growth and attractive multiples, such as technology‑enabled services, consumer staples, and industrial equipment. The firm’s strategy is supported by a deep pipeline of opportunities and a reputation for sourcing deals that benefit from less competition and higher upside potential compared to larger transactions.
Ashmi Mehrotra, Global Co‑Head of J.P. Morgan Asset Management’s Private Equity Group, said the close “reflects strong investor demand for our flagship small‑ and mid‑market strategy and reaffirms the value of our longstanding experience and partner network.” She added that the firm’s focus on high‑growth opportunities across diverse sectors is a key driver of investor confidence.
The capital raise strengthens J.P. Morgan’s position in the global private‑equity market, expands its fee‑income potential, and provides the resources to capture additional deals in a landscape where companies are staying private longer. The firm’s 2026 Global Alternatives Outlook highlights a “private for longer” trend, amplified by advances in artificial intelligence, which is expected to broaden the opportunity set for small‑ and mid‑market buyouts.
Overall, the successful fundraising demonstrates robust investor confidence in J.P. Morgan’s execution and strategic focus, and it positions the firm to deepen its presence in a market that is increasingly favoring private‑market investments driven by technology and growth potential.
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