JPMorgan has officially launched its opportunistic platform, Junius Real Estate Partners, to be led by former Investcorp co-head John Fraser.
News of the group was first revealed in December, but the bank today confirmed said the New York-based group would target US opportunities “throughout the capital structure”.
Junius is part of JPMorgan’s global real assets team, but will invest separately from the group. Fraser will report to head of global real assets, Joe Azelby. In a statement, Azelby said the time was right to target “owners, operators, banks and special servicers look[ing] to restructure or sell over-leveraged real estate assets”.
He added that institutional investors will also increasingly turn to opportunistic deals as they start to move away from the core space.
The global real assets group had almost $47 billion of real estate, infrastructure and maritime assets under management, as of 30 September 2010