J.P. Morgan Asset Management acquires Asia Pacific real estate platform from Aviva Investors

Major push into Australia, Japan and Singapore by large global real assets manager

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Dec 17, 2014, 09:00 ET

NEW YORK, Dec. 17, 2014 /PRNewswire/ -- J.P. Morgan Asset Management and Aviva Investors announced today that J.P. Morgan Asset Management has acquired Aviva's Asia Pacific real estate platform, a direct real estate investment management platform operating in Australia, Japan and Singapore. With the transaction, J.P. Morgan Asset Management – Global Real Assets adds deep capabilities in these three markets to its existing Asia real estate presence in India and Greater China.

Through this acquisition, J.P. Morgan Asset Management, which has been investing in Asia property since 2006 and manages $82 billion in property, infrastructure and maritime assets globally, has taken on the investment management of existing Asia Pacific real estate funds and portfolios spanning core to value-added investments. Not impacted by the transaction are Aviva Investors' multi-manager property strategies in the region.

J.P. Morgan Asset Management's 400-strong Global Real Assets team will be bolstered by the addition of the current Aviva Asia Pacific real estate team. The combined Asia team comprises nearly 50 real estate professionals operating from five offices throughout Asia Pacific – Hong Kong, Mumbai, Singapore, Shanghai and Sydney. A sixth office in the region, in Tokyo, is scheduled to open in early 2015.

"Growing in Asia Pacific has been a strategic imperative for us as a global real assets solutions provider," said Joe Azelby, Head of J.P. Morgan Asset Management – Global Real Assets. "With this acquisition, we have expanded our real estate investment capabilities, across the full risk spectrum from core to opportunistic strategies, to help our clients increase their allocations to dynamic growth markets in Asia Pacific."

"Asia Pacific presents an enormous investment opportunity for our clients. We have accelerated the expansion of our geographic footprint into key real estate markets and added high quality personnel on the ground with extensive market expertise and deep local relationships," said David Chen, Head of Real Estate Asia Pacific for J.P. Morgan Asset Management – Global Real Assets. "With today's announcement, J.P. Morgan is even better able to provide comprehensive pan-Asian property solutions."

Euan Munro, Chief Executive at Aviva Investors said, "As we continue our strategy of simplifying our business and moving towards an integrated operating model and organisational structure, we selected J.P. Morgan to help ensure stability and continuity for the investors in our Asia Pacific real estate strategies."

About J.P. Morgan Asset Management - Global Real Assets
J.P. Morgan Asset Management – Global Real Assets has more than $82 billion in assets under management and approximately 400 professionals in the U.S., Europe and Asia, as of September 30, 2014. With a 40-plus-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets' broad capabilities provide many of the world's most sophisticated investors with a global platform of real estate, infrastructure, maritime/transport and energy strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions. The Global Real Assets team is part of J.P. Morgan Asset Management's Alternatives Investments business, which collectively manages over $120 billion in client assets across real assets, hedge funds, credit and private equity.

About J.P. Morgan Asset Management
J.P. Morgan Asset Management is part of JPMorgan Chase & Co. and is a global asset management leader providing world-class investment solutions to clients. With US$1.7 trillion in assets under management (the Asset Management client funds of JPMorgan Chase & Co. as at September 30, 2014) and offices in 41 locations around the world, J.P. Morgan Asset Management offers global coverage with a strong local market presence, and leadership positions in most asset classes.

J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. This communication may be issued by the following entities: in the United Kingdom by JPMorgan Asset Management (UK) Limited; in other EU jurisdictions by JPMorgan Asset Management (Europe) Societe a responsabilite limitee; in Switzerland by J.P. Morgan (Suisse) SA; in Hong Kong by JF Asset Management Limited, or JPMorgan Funds (Asia) Limited, or JPMorgan Asset Management Real Assets (Asia) Limited; in India by JPMorgan Asset Management India Private Limited; in Singapore by JPMorgan Asset Management (Singapore) Limited, or JPMorgan Asset Management Real Assets (Singapore) Pte Ltd; in Japan by JPMorgan Asset Management (Japan) Limited; in Australia by JPMorgan Asset Management (Australia) Limited ; in Taiwan by JPMorgan Asset Management (Taiwan) Limited and JPMorgan Funds (Taiwan) Limited; in Brazil by Banco J.P. Morgan S.A.; in Canada by JPMorgan Asset Management (Canada) Inc., and in the United States by J.P. Morgan Investment Management Inc., JPMorgan Distribution Services Inc., and J.P. Morgan Institutional Investments, Inc. member FINRA/SIPC.