To focus on its core activities
JP Morgan has been appointed by New York-based Greylock capital management to provide private equity fund administration. Greylock Capital is an alternative asset manager focused on emerging markets in Africa, Asia, Eastern Europe and Latin America.
JP Morgan private equity fund services will provide Greylock Capital with a set of comprehensive services including fund and partnership accounting, capital call/distribution management and investor tracking, along with investor relations support and treasury services.
James Hutter, global business executive of JP Morgan Private Equity Fund Services, said: “Private equity funds are increasingly turning to leading independent administrators like JP Morgan that have the global scale and reach to deliver quality administration services anywhere in the world where they may do business.”
Sekou Kaalund, global head of business development for private equity fund services at JP Morgan, said: “In the current market where asset managers are facing cost pressures, increased investor scrutiny, and forthcoming regulatory changes, outsourcing is a prudent step allowing firms to focus on their core activities while benefiting from industry leading practices for administration.”