JP Morgan AM splits alts unit into two groups

JP Morgan Asset Management (JPMAM) has divided its $400m (£307.3m) alts division into two groups in order to capitalise on new growth opportunities.

The private markets and customised solutions group will be led by Jed Laskowitz, while the global alternative solutions will be led by Anton Pil.

The restructuring is believed to have gone into effect in September.

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George Gatch, chief executive of JPMAM, said that the decision to divide the alts unit is in anticipation of huge growth in the alternative assets sector.

By creating two separate groups, Gatch hopes to “increase focus, resources and momentum in alternatives.”

“Our alternatives business has doubled in size over the past decade to $400bn+ AUM, ranking as one of the top 10 largest alternatives managers, and this restructuring will allow us to drive continued growth over future market cycles,’ Gatch added.

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Laskowitz has been with the firm for 28 years. As head of the private markets and customised solutions group, he will handle all direct investments including real assets, private equity, infrastructure, and macro.

Meanwhile Pil will lead private equity and hedge fund of funds.

Gatch added that with the new alts offering “we have broader due diligence of third party hedge funds, better systems, better analytics, and more resources”.

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