J.P. Morgan Asset Management announced today the establishment of a new sustainability-focused growth private equity investment team. The firm also announced an investment of up to $150 million – marking one of its largest alternative investment capital commitments ever – into the new team’s first private equity strategy, which will invest in growth-stage private companies that drive resource efficiency and climate adaptation solutions across a range of industries.
George Gatch, Chief Executive Officer, J.P. Morgan Asset Management, said:
“As one of the world’s largest asset managers, we are committed to playing a leading role in the transition to a low carbon economy and are proud to be part of a firm that has established a 10-year $2.5 trillion sustainable development target. We are in a unique position to leverage our global scale, data science capabilities, and the expertise of our sustainability leaders to source and invest in best-in-class companies driving the sustainable future.”
The team will form part of J.P. Morgan Private Capital, a recently established a growth equity and private credit investment platform, and will be led by Co-Managing Partners Tanya Barnes and Osei Van Horne. Barnes joins the company from alternative investment manager Blackstone Group, where she served as head of the Blackstone Impact platform. Osei Van Horne, joined the firm in June as Managing Partner and Global Head of Sustainable Growth Equity Investing. Prior to joining JPMorgan, Van Horne worked at Wells Fargo, where he co-founded the firm’s Strategic Capital Technology Division, focused on providing equity and second lien debt capital to high growth technology companies. The team’s investment committee will also include J.P. Morgan’s Senior Climate Scientist and Sustainability Strategist, Dr. Sarah Kapnick.
Van Horne said:
“We believe we’re on the front-end of a once-in-a-generation market opportunity that has the potential to provide both attractive returns for investors and measurable sustainable outcomes for society. We will harness J.P. Morgan’s deep commitment to sustainability, significant big data capabilities, and extensive network with growth stage companies to drive value for our portfolio companies and limited partners.”
Brian Carlin, Chief Executive Officer, J.P. Morgan Private Capital, added:
“Our new sustainable growth private equity team sits at the intersection of the two investing megatrends of our times – the massive opportunity and innovation required to address the sustainability transition, coupled with the ever-increasing demand from both individual and institutional investors to look beyond public markets. Tanya Barnes will add significant value to the team, and we look forward to working with her.”