JP Morgan Private Bank has raised more than $150m for the final close of its Global Impact Fund, which aims to make investments that advance progress towards UN Sustainable Development Goals.
The fund of funds has already been used to back four underlying impact venture, growth and buyout managers, as well as two co-investments.
Target areas include inclusive growth, climate solutions and health and wellness.
Jessica Matthews, head of sustainable investing at JP Morgan Private Bank, said, “The current market landscape offers great opportunities to create both positive impact and long-term growth.
“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.”
JP Morgan Private Bank delivers customized wealth management advice and solutions to wealthy individuals and their families.
The firm began the design of the fund in early 2020 by partnering with Tideline, a majority women-owned consulting firm that provides specialised advice to clients developing impact investment strategies, products, and solutions.
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Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/jp-morgan-private-bank-raises-more-than-150m-to-close-global-impact-fund.html
