J.P. Morgan Asset Management launches private equity fund in Australia

J.P. Morgan Asset Management (JPMAM) has launched the JPMorgan Private Markets Fund in Australia, a multi-manager private equity strategy designed for wealth clients. The fund targets small and mid-market companies, utilizing secondary transactions and co-investments. This move aims to broaden access to private markets for high-net-worth investors, providing diversification and potential long-term returns outside of public markets.

Broader market assessments from JPMAM, MSCI Inc, and the UK’s Financial Conduct Authority (FCA) highlight both the growing importance and the risks of private market allocations. JPMAM notes that while traditional 60/40 portfolios face challenges with real yields, private market fundraising has been impacted by high interest rates and inflation. Data shows significant institutional allocation to alternatives, with endowments and foundations allocating approximately 37% of portfolios as of November 2025.

Governance and risk management remain key concerns. MSCI emphasizes that high levels of private market exposure necessitate rigorous governance. Additionally, an FCA survey revealed vulnerabilities in financial crime risk assessments, with some firms failing to conduct full business-wide reviews or regularly discuss money laundering risks.