JPMorgan Asset Arm Creates Sustainable Investments Team
On Monday, JPMorgan’s asset management arm said it had created a new private equity team whose primary focus will be sustainable investments.
Armed with an investment of up to $150 million, the newly formed team will target growth-stage private companies that create climate solutions related to resource efficiency and climate adaptation for numerous industries.
Tanya Barnes, who previously led Blackstone Inc’s impact investing platform, has been hired by JPMorgan to jointly manage the new team alongside Osei Van Horne. Horne has served as managing partner of sustainable growth equity investing at the bank since May last year.
“We believe environmental, social and governance (ESG) factors will increasingly affect the ability of companies to operate and generate returns, today and over the long term. ESG factors also represent opportunities that investors can capture as companies innovate to build a sustainable future,” says JPMorgan Asset Management’s website.
As the pressure to mitigate the climate crisis intensifies, other major US financial institutions have also been making renewed efforts toward their environmental, social and governance (ESG) related activities. Last week, Blackstone said it launched a platform for investments and lending to renewable energy companies.