J.P. Morgan Private Bank Closes Global Impact Fund
Blends global specialization in Alternative Investing with the Private Bank's focused approach to Sustainable Investing
18 Mar, 2021, 10:00 ET
NEW YORK, March 18, 2021 /PRNewswire/ -- J.P. Morgan Private Bank announced the final closing of its Global Impact Fund (the "Fund"), with total investable capital of more than $150 million. The Fund, which began investing in December 2020, has already committed to four underlying impact venture, growth and buyout managers, in addition to executing two co-investments.
The Global Impact Fund targets three significant investment themes that represent both meaningful growth opportunities and the potential to make a measurable positive impact on the world: inclusive growth, climate solutions and health and wellness. The Fund offers a diversified portfolio of impact private investment funds constructed with the intent to advance progress toward specific UN Sustainable Development Goals. Additionally, the Fund is inclusive of diverse managers, which adds significant representation among the investment teams.
J.P. Morgan Private Bank began the design of the fund in early 2020 by partnering with Tideline, a leading Impact Investment Consultancy. Tideline collaborated in the development of an impact framework, from manager screening to ongoing monitoring throughout the life of the investment. Individual manager selection and the ultimate construction of the portfolio was completed through the rigorous due diligence process of J.P. Morgan Private Bank's Alternative Investments Team.
"The Global Impact Fund runs on the experience and access of J.P. Morgan's Alternative Investments Team and Sustainable Investing Team, along with the impact management expertise of Tideline," said John Ancona, Head of Private Equity Due Diligence, J.P. Morgan Private Bank. "This partnership allowed us to develop a leading portfolio that emphasizes both themes and investment performance, while being backed by proprietary tools and reporting. This is a game-changing fund for clients interested in impact investing."
The three themes were chosen to represent a wide range of growth opportunities, which were also aligned with the UN Sustainable Development Goals:
- Inclusive Growth: Advancing the shift toward equal economic opportunity through access to financial services, quality education and training, and promoting inclusive business practices by investing in human capital. Potential investment opportunities include education technology, financial inclusion and employment training.
- Climate Solutions: Advancing agricultural and energy efficiency, sustainable water use, climate resilience, and the renewable energy transition. Potential investment opportunities include renewable energy transformation, electric vehicles, agriculture technology and circular economy.
- Health and Wellness: Advancing access to quality, affordable healthcare and treatments, and food access and security. Potential investment opportunities include healthcare inclusion, nutritional consumer products and green chemistry.
"The current market landscape offers great opportunities to create both positive impact and long-term growth," said Jessica Matthews, Head of Sustainable Investing, J.P. Morgan Private Bank. "The global economy is shifting toward sustainable solutions driven by these themes, transforming industry or creating new industries altogether. We believe this impact investing solution reflects the transformational growth opportunity in the world today and we are excited to help our clients be a part of it."
"Tideline was pleased to work with J.P. Morgan Private Bank to crystalize new standards and best practices in impact management as part of an industry-leading Fund," said Ben Thornley, Managing Partner at Tideline. "There is unprecedented need and demand right now for impact investing, and J.P. Morgan Private Bank is strongly positioned to play a leading role, including by helping channel more capital to diverse managers."
About J.P. Morgan Private Bank
J.P. Morgan is a global leader in financial services to corporations, governments, for-profit and not-for-profit institutions and wealthy individuals. Through the Private Bank at J.P. Morgan, the firm delivers customized wealth management advice and solutions to wealthy individuals and their families, leveraging its broad capabilities in investing, family office management, philanthropy, credit, fiduciary services and special advisory services to help its clients advance toward their own particular goals. For more than 150 years, the Private Bank's comprehensive and integrated product offering, commitment to innovation and integrity, and focus on placing the interests of its clients first and foremost have made J.P. Morgan an advisor of choice to people of significant wealth around the world.
Tideline is a majority women-owned consulting firm that provides specialized advice to clients developing impact investment strategies, products, and solutions. Through BlueMark, a Tideline business, the firm is also a leading provider of independent impact verification services to asset owners, asset managers, and enterprises. To learn more, visit www.tideline.com.
SOURCE J.P. Morgan Private Bank
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