J.P. Morgan Asset Management has held a final closing of its Lynstone Special Situations Fund (Lynstone), with $1.06 billion in capital raised from a broad set of global investors, comprising pension funds, insurance companies, banks, foundations, endowments and family offices across the Americas, Europe, the Middle East and Asia. More than half of the investors are first-time investors in a J.P. Morgan alternatives fund.
Lynstone will invest in stressed, distressed and event-driven situations across North American and European private and public credit markets, where underlying assets are discounted due to illiquidity or market disruption and where an event or catalyst has the strong potential to drive a positive total return. Lynstone, which surpassed its $750 million target, represents the first special situations fund from J.P. Morgan Global Alternatives, a $146 billion platform spanning real estate,
