J.P. Morgan Private Bank announced the final closing of its Global Impact 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.”