JPMorgan Builds New Team to Focus on Sustainability Goals
A Brief Summary
J.P. Morgan Asset Management announced the formation of a new growth private equity investment team focused on sustainability. The firm also announced a $150 million investment in the new team's first private equity strategy, which will invest in growth-stage private companies that drive resource efficiency and climate adaptation solutions across a variety of industries, marking one of the firm's largest alternative investment capital commitments ever.
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Tanya Barnes and Osei Van Horne will lead the team, which will be part of J.P. Morgan Private Capital, a newly developed growth equity and private credit investment platform. Barnes comes to the organisation from Blackstone Group, where she was the leader of the company's Blackstone Impact platform. Osei Van Horne, Managing Partner and Global Head of Sustainable Growth Equity Investing, joined the company in June. Van Horne formerly worked at Wells Fargo, where he co-founded the firm's Strategic Finance Technology Division, which focused on supplying high-growth technology businesses with equity and second-lien loan capital. Dr Sarah Kapnick, Senior Climate Scientist and Sustainability Strategist at J.P. Morgan, will serve on the team's investment committee.
Van Horne said: “We believe we’re on the front-end of a once-in-a-generation market opportunity that has the potential to provide both attractive returns for investors and measurable sustainable outcomes for society. We will harness J.P. Morgan’s deep commitment to sustainability, significant big data capabilities, and extensive network with growth-stage companies to drive value for our portfolio companies and limited partners.”