JPEL raises $75m for secondaries deals

The listed fund of funds surpassed its target, selling shares at or above its current stock price.

JPMorgan Private Equity Limited (JPEL), a London-listed fund of funds focused on secondary fund interests, has raised more than $75 million in a series of share sales, surpassing its $50 million target.

“Going out, we thought $50 million was going to be difficult to [raise] because at the time we were selling at about a 5 percent premium to stock price.