CFS selects JPMAM for further private markets foray

Mike Taylor

Managing Editor/Publisher, Financial Newswire

7 August 2025

JP Morgan Asset Management (JPMAM) has extended a key mandate, being selected by Colonial First State (CFS) as its partner for its foray into private markets.

CFS announced it was making a debut into private equity allocation and continuing its expansion into unlisted asset classes.

The announcement said the two firms would work together to design a multi-year deployment program to capitalise on opportunities in the current market environment, by investing in secondaries and co-investments, with a focus on small and mid-market buyout transactions “that offer attractive risk and return characteristics”.

Commenting on the move, CFS chief investment officer, Jonathan Armitage said the decision to appoint JPMAM for the firm’s inaugural private equity allocation reflected their expertise and performance in the asset class.

“We were particularly impressed by the depth of their private equity team, their commitment to delivering tailored solutions, and their ability to access and leverage the broader capabilities and relationships across the J.P. Morgan organisation,” he said.

The announcement noted that JPMAM’s Private Equity Group manages US$35 billion on behalf of a global client base with a deal sourcing engine that originated in 1980.

JPMAM Private Equity Group Global Co-Head, Ashmi Mehrotra noted that the team had generated direct alpha comfortably above the MSCI World Index on a net of fees basis since 2008.

JPMAM ANZ chief executive, Andrew Creber said the firm was delighted to grow its partnership with CFS, which spans both public and private markets.

“Private equity plays a critical role in diversifying portfolios because it has the potential to enhance returns and reduce risk, but selecting the right partner with the experience and network to source transactions that exhibit attractive risk and return characteristics is critical.,” he said.

“We are a big believer in long-term strategic partnerships and ultimately aim for our clients to view JPMAM as an extension of their own investment teams.”