JP Morgan Asset Management raises $1.06bn

The global investment manager closes special situations fund more than $300 million above target.

JP Morgan Asset Management has closed its Lynstone Special Situations Fund at $1.06 billion, surpassing the initial target of $750 million. The fund will invest in stressed, distressed and event-driven opportunities in North America and Europe across private and public credit markets.

Lynstone’s investor base consists of pension funds, insurance companies, banks, foundations, endowments, and family offices across the globe. More than half of the investors are first-time investors in an alternatives JP Morgan fund.