JPMorgan to form new US opportunistic group

The bank’s asset management arm is creating a new opportunistic group within Global Real Assets and has tapped Investcorp’s co-head of real estate to lead the effort.

JPMorgan Asset Management is launching a new, dedicated US opportunistic real estate group within its Global Real Assets group and has tapped John Fraser, formerly of Investcorp, to head up the effort, according to sources close to the firm. He will report to Joe Azelby, head of Global Real Assets, when he joins the firm in January.

The new opportunistic group's deals and investment process will be separate from JPMorgan’s existing US real estate platform. Fraser and his to-be-formed team will be a new group with a distinct brand, sources said, adding that the launch is not expected to have an impact on any of Global Real Assets’ existing strategies. As of September, Global Real Assets has approximately $46.9 billion in real estate and infrastructure assets under management.  A spokesperson for JPMorgan declined to comment.

Prior to joining JPMorgan Asset Management, Fraser was managing director and co-head of Investcorp Real Estate. A message left on Fraser’s voicemail at Investcorp was not returned.