New York, NY, July 21, 2022 -- J.P. Morgan Global Alternatives has been re-appointed by the Florida State Board of Administration (SBA) as manager for a second tranche of the Florida Growth Fund. As part of the mandate, J.P. Morgan will construct a return-enhancing private equity portfolio focused on technology, growth and buyouts in Florida. The firm will commit to private equity funds based in Florida, as well as making investments directly in companies with a significant presence in the state.

The Florida Growth Fund is a legislatively-approved program providing capital to growth related businesses in Florida that commenced in 2009. The Fund currently has investments valued at over $600 million in Florida-based funds and direct private equity or credit-related transactions.

"We are excited to continue and grow our partnership with the SBA on the Florida Growth Fund,” said Robert Cousin, Managing Director in J.P. Morgan Global Alternatives’ Private Equity Group. “The size, growth and diversity of the Florida economy continues to offer an abundance of compelling investment opportunities. In addition, over the past three years, we have seen a marked increase in new private equity sponsors forming in the state, as well as existing sponsors relocating to Florida,”

The State Board of Administration currently manages over $190 billion in assets of the Florida Retirement System Trust Fund and other funds for the State of Florida and local governments in assets classes including fixed income, domestic equities, foreign equities, private equity, real estate, and cash. More information on the Florida Growth Fund Program can be found here.

About J.P. Morgan Global Alternatives

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 50 years as an alternatives investment manager, US$218 billion in assets under management and more than 700 professionals (as of March 31, 2022), J.P. Morgan offers strategies across the alternative investment spectrum including real estate, private equity, private credit, hedge funds, infrastructure, transportation, timber and liquid alternatives. Operating from offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client's specific objectives. For more information, visit jpmorgan.com/am.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $2.5 trillion (as of June 30, 2022), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity.

J.P. Morgan Asset Management is the marketing name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.8 trillion in assets and $286.1 billion in stockholders’ equity as of June 30, 2022. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.