JPMorgan said to raise up to $10b for alternative investments

JPMorgan said to raise up to $10b for alternative investments

REUTERS/Mike Segar

JPMorgan Chase & Co’s alternative investments unit is looking to raise up to $10 billion to boost its spending power in the face of the coronavirus pandemic, a source familiar with the matter said on Monday.

The bank plans to raise $5 billion to $10 billion in the next couple of months from clients including pension funds, sovereign-wealth funds, family offices and private banks, according to the source.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter