J.P. Morgan Asset Management has launched a new initiative aimed at providing capital to funds managed by diverse, emerging alternative managers, including minority-led and women-led venture capital funds and other private funds. As part of the initiative – which is called Project Spark – J.P. Morgan Asset Management has committed to investing an initial $25 million in five or more funds.
The chair of the Project Spark investment committee is Jamie Kramer, who is head of J.P. Morgan Asset Management’s Alternatives Solutions Group. The other members of the five-person committee are: Lisa Coleman, head of global investment grade corporate credit; Megan McClellan, head of private credit; Brandon Robinson, CFO of global alternatives; and Lee Spelman, head of U.S. Equity. J.P. Morgan Asset Management had $2.3 trillion in assets under management as of Dec. 31.