J.P. Morgan Builds Out Secondaries Capabilities with Senior Private Credit, Private Equity Hires

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Aug 02, 2022, 09:00 ET

Andrew Carter to Head Private Credit Secondaries in J.P. Morgan Alternative Asset Management team

Tim Henn to Lead Secondary Investments in Private Equity Group

NEW YORK, Aug. 2, 2022 /PRNewswire/ -- J.P. Morgan Global Alternatives today announced the hire of two seasoned executives to enhance the firm's capabilities in private credit and private equity secondaries.

Andrew Carter joins J.P. Morgan Alternative Asset Management as Head of Private Credit Secondaries from Tikehau Capital and will be responsible for leading all aspects of J.P. Morgan's private credit secondaries business. Andrew has extensive experience in private credit and was one of the first dedicated investors in private credit secondaries, globally. He brings with him deep relationships with managers across the industry. Based in New York, Mr. Carter will report to Head of Private Credit Strategies, Brian Coleman. Andrew's full biography is included below.

Tim Henn joins as a lead Portfolio Manager for Secondaries within the Private Equity Group, based in New York. Mr. Henn is an experienced secondary professional who previously led secondary investments at Portfolio Advisors representing ~$2.0 billion of total exposure with a track record primarily focused on portfolios of LP interests in buyout funds, complemented by growth equity and GP-led exposure. Based in New York, Tim will report to Stephen Catherwood and Ashmi Mehrotra, Co-Heads of the Private Equity Group. Tim's full biography is included below.

"We continue to expand our private market capabilities and the recruitment of Andrew and Tim reflects the opportunity we see in secondaries across private equity and private credit markets," said Anton Pil, Head of Alternatives at J.P. Morgan Global Alternatives. "Investors continue to look beyond public markets to generate returns, and we believe private credit and private equity will continue to play a critical role in client portfolios going forward."

"Andrew has an incredibly impressive track record in building secondaries businesses and is recognized as a prominent thought leader in the industry, so we're fortunate to have him join our team," said Jamie Kramer, Head of the Alternative Solutions Group at J.P. Morgan Global Alternatives. "We have seen significant demand for secondaries strategies from clients across the globe, reflecting the need for greater liquidity to take advantage of opportunities as private debt markets mature. Andrew will play a key role in further building out our capabilities in this space."

"Tim's extensive sourcing network, investment underwriting and execution experience will complement the Private Equity Group's extensive GP relationships and position as a preferred buyer," said Stephen Catherwood, Co-Head of the Private Equity Group at J.P. Morgan Global Alternatives. "Tim's strong track record in secondary investments, combined with a philosophical and cultural alignment with our team's approach, make him an ideal fit to bolster our secondaries capabilities on behalf of our clients."

Biographies

Andrew Carter, Head of Private Credit Secondaries, J.P. Morgan Alternative Asset Management

Andrew joins the firm from Tikehau Capital where he was Co-Head of the firm's Private Debt Secondaries team, investing in seasoned private credit funds – both through LP stake acquisitions and as GP-led transactions. Before joining Tikehau Capital, Andrew was a Vice President in Mizuho's Financial Institutions Group, leading coverage of the private debt sector and prior to this was an Associate in the Financial Institutions Group at Barclays Capital. Andrew graduated from the United States Naval Academy with a Bachelor of Science, gained a Masters in International Affairs from Penn State University and has an MBA from Georgetown University. He served in the United States Marine Corps for more than seven years. Andrew is a regular speaker at industry conferences and contributor to industry publications discussing the credit secondaries market.

Tim Henn, Lead Portfolio Manager for Secondaries, Private Equity Group, J.P. Morgan Global Alternatives

Tim joins J.P. Morgan from Portfolio Advisors, where he was most recently a Senior Vice President in the firm's Secondary Investment Team. In this role, Tim was focused on secondary transactions, including buyout, growth, venture, special situations, secondary/fund-of-funds and secondary directs strategies. Prior to this, Tim worked at Raymond James & Associates in Debt Origination & Restructuring Investment Banking, and started his career as a corporate finance/restructuring consultant at FTI Consulting. Tim graduated Cum Laude from Georgetown University's McDonough School of Business with a Bachelor of Science, majoring in Finance. Tim was named a a 2021 Next Gen Leader by Secondaries Investor.

About J.P. Morgan Global Alternatives

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 50 years as an alternatives investment manager, US$218 billion in assets under management and more than 700 professionals (as of March 31, 2022), J.P. Morgan offers strategies across the alternative investment spectrum including real estate, private equity, private credit, hedge funds, infrastructure, transportation, timber and liquid alternatives. Operating from offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client's specific objectives. For more information, visit jpmorgan.com/am.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $2.6 trillion (as of March 31, 2022), 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.

J.P. Morgan Asset Management is the marketing name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $3.7 trillion in assets and $294.1 billion in stockholders' equity as of December 31, 2021. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S. and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com

SOURCE J.P. Morgan Asset Management