Qatar Investment Authority (QIA) and JP Morgan Asset Management (JPMAM) have agreed to form a $20bn investment partnership covering public and private market strategies in equities and credit.
The planned arrangement starts with two areas. One is a $5bn public equities mandate intended to align with QIA’s long-term investment goals. The other is a $5bn private markets programme centred on established middle-market businesses in the United States.
As part of the public equities mandate, JP Morgan Asset Management is set to oversee tailored global equity portfolios on behalf of QIA.
JP Morgan Asset and Wealth Management CEO Mary Callahan Erdoes said: “It’s a privilege to partner with QIA on this strategic initiative. By leveraging JP Morgan’s global investment capabilities across public and private markets, we’ll support QIA’s role as a leader in global institutional investing and help deliver customized, high-quality solutions.”
In private markets, the two organisations plan to provide senior financing to US middle-market companies operating in sectors such as industrials, services, healthcare and technology.
The framework brings together QIA’s institutional investment approach and JPMAM’s role in managing the investment strategies covered by the agreement.
QIA CEO Mohammed Saif Al-Sowaidi said: “We are pleased to grow our partnership with J.P. Morgan Asset Management and gain access to one of the world’s leading global equity and private credit platforms. Through ongoing investment dialogue, joint programs, and the direct exchange of ideas, this collaboration will play an important role in unlocking new opportunities for both firms to generate long-term value.”
Earlier this year, QIA widened its relationship with Goldman Sachs Asset Management, allocating $25bn to Goldman Sachs-managed funds and co-investment opportunities.
Under that agreement, the Qatari sovereign wealth fund is serving as an anchor investor in a number of Goldman Sachs Asset Management strategies, including existing and new private market programmes as well as direct investments.
“QIA, JP Morgan agree $20bn investment tie-up spanning equities and credit” was originally created and published by Private Banker International, a GlobalData owned brand.
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