JPMorgan Private Equity has announced that, further to its announcement on 27 October 2015 (regarding the spin-out of the company’s investment management team from J.P. Morgan Asset Management to an affiliate of Fortress Investment Group LLC) the company has now been advised that a definitive agreement in relation to the transfer has been signed. As prevoiously announced, the Existing investment management contract with J.P. Morgan Asset Management will be terminated, and JPEL will enter into a new investment management contract with Fortress Investment Group. The company says that there will be o change in the underlying investment management responsibilities for the trust as Troy Duncan and Greg Getschow will remain as sole investment committee members and the entire management team responsible for the trust’s portfolio will move from J.P. Morgan Asset Management to Fortress Investment Group. The board also say that there will be no change in underlying investment process or strategy and that the JPEL shares held by J.P. Morgan Asset Management will be transferred to funds managed by Fortress Investment Group. The company says that it expects to sign a new Investment Management Agreement with Fortress which is expected to be similar to the existing management agreement in all material aspects.
JPMorgan Private Equity confirms move to Fortress : JPEL