JP Morgan expands Europe PE, RE fund admin team

The bank already earns fees from servicing private equity, real estate and infrastructure funds from an office in London, but is now opening in Jersey in a bid to capture more clients.

JPMorgan Private Equity Fund Services has established a presence in Jersey in the Channel Islands to service existing and new offshore clients.

The Jersey operation is opening a year after the bank established fund services in London for private equity, real estate and infrastructure firms, as well as alternative investment portfolio administration services for institutional limited partners.

More than 400 funds were domiciled or administered in Jersey at the end of 2007. JP Morgan’s existing global administration services business represents more than 200 funds with $58 billion ($37 billion) in committed capital.