JPMorgan targets private credit firm to boost $3.6tn asset management arm

New York-based banking giant JPMorgan Chase & Co is actively seeking to acquire a private credit firm to strengthen its private capital operations within its $3.6tn asset management division, according to a report by Bloomberg. 

Earlier this year, JPMorgan engaged in talks to purchase Chicago-based Monroe Capital, but the negotiations did not result in a deal, according to Bloomberg’s sources. 

Last January, Bloomberg reported that JPMorgan’s investment bank had allocated over $10bn of its balance sheet for direct lending and was focused on forming partnerships with asset managers to collaborate on private credit deals. 

JPMorgan’s asset management arm manages funds for high-net-worth individuals and institutions such as endowments and pension funds. At the end of last year, it managed $17bn in private credit assets, slightly less than Monroe Capital’s nearly $19bn in committed and managed capital as of 1 April. 

According to one of Bloomberg’s sources, a takeover would enable JPMorgan’s asset management arm to scale up rapidly, though the firm may choose to grow its private credit offerings organically. 

At an investor day on Monday, Troy Rohrbaugh, JPMorgan’s co-chief executive of commercial and investment banking, described private credit as an “important growing space”. 

IoT is Driving Sustainable Battery Surge

Dorian Maillard, Vice President at DAI Magister, explains the challenges and opportunities facing the growing market in efficient, eco-friendly power solutions.

In the expansive landscape of the Internet of Things (IoT), the quest for sustainable power solutions has emerged as a pivotal challenge. With the IoT market forecasted to surpass US$1.6 trillion by 2025, the demand for efficient power solutions has become increasingly pressing. However, the reliance on traditional batteries poses significant environmental and logistical hurdles, driving the imperative for sustainable alternatives.

The IoT market’s exponential growth, fuelled by advancements in connectivity, sensor technologies and data analytics, underscores the critical importance of sustainable power solutions. With over 75 billion connected devices projected to be in operation within the next decade, the reliance on conventional batteries is unsustainable in the long run. The proliferation of IoT devices, ranging from smart home gadgets to industrial sensors, has led to an unprecedented surge in battery consumption. The sheer number of batteries being utilised not only presents challenges in terms of resource depletion but also raises concerns about the environmental impact of battery disposal.

Rising demand for alternatives

Certain sectors within the IoT industry stand out as particularly in need of alternative battery solutions. For instance, industries such as healthcare, where continuous monitoring devices are extensively used, require reliable and long-lasting power sources to ensure uninterrupted operation. Moreover, in industrial settings, where sensors and monitoring devices are deployed in harsh environments and remote locations, sustainable battery alternatives can reduce maintenance costs and enhance operational efficiency. Additionally, in the realm of smart agriculture, where IoT devices are employed for precision farming and environmental monitoring, sustainable power solutions are essential to enable data-driven decision-making and optimise resource utilisation.

Despite efforts to recycle batteries, the process remains inefficient and often results in hazardous waste. Improper disposal of batteries can lead to soil and water contamination, posing risks to ecosystems and human health. In addition, the reliance on finite and environmentally damaging resources, such as lithium and cobalt, further exacerbates the sustainability issue. As the global demand for batteries continues to escalate, concerns over resource depletion, environmental degradation and geopolitical tensions surrounding resource extraction intensify.

The transition to sustainable battery alternatives is not only a matter of environmental responsibility but also a strategic imperative for ensuring the long-term viability of IoT deployments. By reducing reliance on conventional batteries, organisations can mitigate environmental risks, enhance operational efficiency, and contribute

Investor Networks Distil Transition Guidance

Demand for transition-focused products grows as 1.5°C pathway falls out of sight.  

Several investor networks have consolidated their respective guidance on climate transition to help financial institutions measure investee company plans more robustly.  Building on foundational work launched last year, the Climate Bonds Initiative (CBI) partnered with the Institutional Investors Group on Climate Change (IIGCC), the Sustainable Markets Initiative (SMI), the Glasgow…

Subscribe

Subscribe to ESG Investor to gain access to the leading platform for news, analysis, and interviews across sustainable investing. Select subscribe below to view our subscription packages or you can email us at subscriptions@esginvestor.net to discuss your options.

Subscribe

Request a Trial

Get in touch today to discuss a trial giving you unrestricted and unlimited access to ESG Investor for you and/or your team(s) for a limited period. Email us at subscriptions@esginvestor.net

Related Items:, , , , , , , , , , , , Recommended for you

British retail sales plunge 2.3% in April, missing estimates

Economists polled by Reuters expected a smaller fall of 0.4%. March’s figure was revised from flat to a 0.2% decline. People walk in the rain over the London Bridge in central London, March 12, 2024. Lucy North – Pa Images | Pa Images | Getty Images

LONDON — U.K. retail sales volumes dropped 2.3% in April as wet weather deterred shoppers, the Office for National Statistics said Friday.

Economists polled by Reuters expected a smaller fall of 0.4%.

“Sales volumes fell across most sectors, with clothing retailers, sports equipment, games and toys stores, and furniture stores doing badly as poor weather reduced footfall,” the ONS said.

March’s figure was revised from flat to a 0.2% decline.

CNBC

Stephen Bird exits abrdn as Jason Windsor takes interim CEO role

The immediate exit of Bird comes ahead of his fourth anniversary at the firm, although he will remain at the business for a further month to “ensure a smooth handover”, departing formally on 30 June. Bird will then be placed on garden leave until 31 December, after which point the remaining five months of his 12-month notice period will be paid in lieu. abrdn to close Multi-Asset Climate Solutions fund after failure to build scale Windsor takes on the role of interim group CEO as the firm begins the “process of moving to fresh leadership”. According to the regulatory statement, …

Bond manager Torcail Stewart leaves Baillie Gifford to train as teacher

Stewart co-managed the Strategic Bond fund alongside head of credit Lesley Dunn and head of credit research Rob Baltzer, who will continue to run the fund following his departure. As a consequence, Baltzer will step down from managing the firm’s High Yield Bond fund, leaving it in the hands of co-managers Arthur Milson and Faisal Islam. Baltzer joined Baillie Gifford’s graduate scheme in 2001, later becoming an investment grade bond manager in 2004. Baillie Gifford closes Investment Grade Long Bond fund Milson is an investment manager in the credit team, having worked for abrdn/Sta…

Market calm hides a sense of unease

Standard DigitalWeekend Print + Standard Digital

wasnow $85 per month

Billed Quarterly at $199. Complete digital access plus the FT newspaper delivered Monday-Saturday.

What’s included

Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital

G7 finance ministers mull plan to issue debt backed by frozen assets

Standard DigitalWeekend Print + Standard Digital

wasnow $75 per month

Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.

What’s included

Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital