JP Morgan Global Alternatives has made two hires to enhance its private market capabilities.
New head of private credit secondaries Andrew Carter joins the firm from Tikehau Capital where he was co-head of the private debt secondaries team which invests in private credit funds both through LP stake acquisitions and as GP-led transactions. He will be responsible for leading all of the firms’s private credit secondaries business.
Previously Carter was vice president at Mizuho’s Financial Institutions Group.
Jamie Kramer, head of the alternative solutions group at JP Morgan Global Alternatives, said, “We have seen significant demand for secondaries strategies from clients across the globe, reflecting the need for greater liquidity to take advantage of opportunities as private debt markets mature. Andrew will play a key role in further building out our capabilities in this space.”
In the private equity space, Tim Henn has joined JP Morgan as lead portfolio manager for secondaries within the private equity group. He joined the firm from Portfolio Advisors where he was senior vice president in the secondary investment team. He focused on secondary transactions including buyout, growth,venture, special situations, secondary/fund-of-funds and secondary directs strategies.
Stephen Catherwood, Co-head of the private equity group at JP Morgan Global Alternatives, said, “Tim’s extensive sourcing network, investment underwriting and execution experience will complement the Private Equity Group’s extensive GP relationships and position as a preferred buyer.
“Tim’s strong track record in secondary investments, combined with a philosophical and cultural alignment with our team’s approach, make him an ideal fit to bolster our secondaries capabilities on behalf of our clients.”
JP Morgan Asset Management raised $2.4bn in June for the final close of its second Lynstone Special Situations Fund, targeting stressed, distressed, and event driven situations in European and North American businesses.
It hired Tanya Barnes from Blackstone as co-managing partner in January in the newly created sustainability-focused growth private equity investment team.
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