NEW YORK, NY - J.P. Morgan Asset Management (NYSE: JPM) today announced that it has hired John Fraser as Managing Director and head of its new U.S. opportunistic real estate investment division, Junius Real Estate Partners. The new business, based in New York, will manage assets separately from J.P. Morgan's existing real estate asset management business, and will report to Joe Azelby, head of J.P. Morgan Asset Management − Global Real Assets.
"We are very excited to have John on board to lead this new opportunistic real estate investment platform," said Joe Azelby. "We believe that the timing is right for this segment of the market, as owners, operators, banks and special servicers look to restructure or sell over-leveraged real estate assets. Institutional investors who have been focused on adding core real estate exposure will be increasingly interested in taking advantage of the investment opportunities currently unfolding."
"Junius will have a singular focus on identifying and executing new investment opportunities with compelling risk/return profiles," said John Fraser. "I'm confident that the combination of a nimble, focused and hand-selected real estate investment team backed by the powerful infrastructure of J.P. Morgan Asset Management can deliver attractive returns."
Junius Real Estate Partners is a new U.S. opportunistic real estate investment manager that combines the capabilities of a deeply skilled, highly focused investment team with the fiduciary heritage and vast resources of J.P. Morgan Asset Management. Junius focuses on selective real estate investments that aim to exploit opportunities throughout the capital structure.
Mr. Fraser joins J.P. Morgan from Investcorp, where he was co-head of real estate, responsible for all facets of Investcorp's real estate investment business, including investment strategy and execution, for the company's $5 billion investment portfolio. Prior to his 15 years at Investcorp, Mr. Fraser held various real estate investment roles at firms including The O'Connor Group, Eastdil Realty and Aston Development.
J.P. Morgan Asset Management – Global Real Assets has approximately $46.9 billion in real estate, infrastructure and maritime assets under management, as of September 30, 2010. With a 40-year history of successful investing and a staff of 366 professionals, J.P. Morgan Asset Management – Global Real Assets identifies, analyzes, negotiates, acquires, develops, redevelops, renovates, operates, maintains, finances and sells assets, on behalf of its clients. J.P. Morgan Asset Management's broad investment capabilities and framework for analyzing opportunities in today's complex real estate and infrastructure markets provide critical insights for its institutional clients in both the public and private markets.
J.P. Morgan Asset Management, with assets under supervision of approximately $1.8 trillion and assets under management of $1.3 trillion (as of September 30, 2010), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.1 trillion and operations in more than 60 countries.
Source: J.P. Morgan Asset Management