Merrill Lynch is bringing back the $1 billion investment fund for its septober fund.
The new fund, backed by private equity firm Quantum Global and investment banking firm RBS Capital, will invest in companies in the US, Europe, Asia and Latin America, including companies in financial services, technology and retail.
It will be the largest fund in the firm’s portfolio.
It is part of JPMorgan’s strategy to invest in emerging markets, particularly in emerging economies where it believes the growth opportunities are greater.
The fund will be led by investment strategist and hedge fund manager David Dolan, who previously served as JPMorgan’s global head of equity research.
“We have a lot of work ahead of us in terms of getting our investments in right now, but we are committed to investing in these companies,” he said.
“In our view, these companies are in great shape.”
Quantum Global will invest $1.1bn in three US-based companies, with the fund aiming to diversify the portfolio.
Dolan added that he had been working with RBS to help JPMorgan in the future.
“The investment in these three companies, combined with the other investments we are doing, is an excellent portfolio for JPMorgan to invest,” he told the New York Times.
“There’s so much upside potential in these investments.”
These are companies that are going to do very well for a number of reasons, and we’re in a position to help them grow.
“The investment fund has a mix of American companies, European companies and regional players.
It will also have investments in a handful of emerging markets such as Indonesia and South Korea.