JPMorgan announced today that it has been selected by London Pensions Fund Authority (LPFA), the largest local government pension scheme in London, to provide portfolio administration and performance reporting for their alternative investment portfolio.  The mandate represents JPMorgan's first Alternative Investment Portfolio Administration outsourcing agreement in the U.K, and complements JPMorgan's existing European private equity client base.

JPMorgan Private Equity Fund Services (PEFS) will provide LPFA with a set of comprehensive services to give greater insight on the performance, concentration and risk across the alternative investment portion of their assets.  The services include cash management, cash flow tracking, performance measurement and analytics. There is also a sophisticated board-quality reporting capability.  

INFO SOURCES

JPMorgan Chase & Co. (NYSE: JPM)

FIRMS

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.6 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chase brands.

JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $15.6 trillion in assets under custody.  JPMorgan provides innovative custody, fund accounting and administration and securities services to the world's largest institutional investors, alternative asset managers and equity issuers.  JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 90 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services.

JPMorgan PEFS provides middle and back office outsourcing of fund administration services for more than 200 funds at private equity firms, representing over $45 billion in committed capital.  JPMorgan PEFS also serves the world's largest institutional investors in alternative assets with over $100 billion in aggregate committed capital.  JPMorgan PEFS recently won a top rating in a survey* of private equity administrators and was lauded for its "robust, proven technology platform" and staff with a deep knowledge of private equity. JPMorgan PEFS has more than 150 professionals with decades of experience in private equity accounting and operations. The team is highly skilled in providing services to private equity funds and institutional limited partners globally, since it has operations in London, New York, Chicago, Dallas, San Francisco and Sydney.

PEOPLE

Philip Jones, Investment Manager at LPFA

Benjie Fraser, head of UK pensions and charities for JPMorgan Worldwide Securities Services' Securities Company

Huw Jones, EMEA Regional Head for PEFS