October 31, 2019
J.P. Morgan Asset Management closed its Lynstone Special Situations Fund with $1.06 billion in capital. The fund, which will invest in stressed, distressed and event-driven situations across North American and European private and public credit markets, surpassed its $750-million target.
Lynstone represents the first special situations fund from J.P. Morgan Global Alternatives, a $146-billion platform spanning real estate, infrastructure, transportation, hedge funds, private equity, private credit and liquid alternatives. It was raised from a broad set of global investors comprising of pension funds, insurance companies, banks, foundations, endowments and family offices.
“In the current late-cycle market, we see significant investment opportunities in both the North American and European private credit markets, including providing bespoke solutions to companies in need of liquidity or capital structure solutions,” said Brad Demong, New York-based co-CIO, global special situations, J.P. Morgan Asset Management.
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