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PrintSep 08, 2008
- Shareholders of Bear Stearns Private Equity Limited have approved the proposed name change to J.P. Morgan Private Equity Limited
8 September 2008: JPMorgan Asset Management has announced that shareholders of Bear Stearns Private Equity Limited have approved the proposed name change to J.P. Morgan Private Equity Limited ("JPEL" or the "Company") at an Extraordinary General Meeting held on 5 September 2008.
The name change will provide JPEL shareholders with the benefits of investor familiarity with the JPMorgan brand as well as the continued private equity investment expertise of the Company's Manager. Both the Manager and the team currently running the Company, led by Gregory Getschow and Troy Duncan, will continue to be responsible for all of the Company's investment decisions and its other day to day activities.
"We are very excited to be a part of JPMorgan's world class franchise," commented Gregory Getschow, JPEL's Manager. "The name change reflects our association with the JPMorgan brand and we believe that this is an extremely positive event for JPEL as the Company enters its fourth fiscal year. We look forward to continuing to produce superior risk adjusted returns for our shareholders as part of JPMorgan Asset Management."
David Barron, Head of Investment Trusts at JPMorgan Asset Management said, "JPEL's Manager has demonstrated excellent performance and are known throughout the private equity community for their superior approach to private equity investing. We are delighted JPEL is joining the JPMorgan platform, which includes the largest range of investment trusts in the UK, and look forward to working closely with this experienced team."
The name change will become effective within a few weeks, after 5th September 2008, pending approval from the Guernsey Registry. Following this approval, the Company's tickers will be changed to "JPEL" and "JPEZ" for Equity shares and ZDP shares, respectively. The Company's website will be accessed via www.jpelonline.com, and www.jpelonline.co.uk. Additionally, the URLs for www.bspel.com and www.bspel.co.uk will redirect to the newly branded JPEL websites.
About J.P. Morgan Private Equity Limited
J.P. Morgan Private Equity Limited ("JPEL" or the "Company") is a London-quoted, Guernsey-registered investment company that invests with the world's leading private equity managers. JPEL invests in private equity assets through secondary purchases and direct investments in Europe, North America and Asia.
JPEL employs a global macro approach to private equity investing designed to generate superior risk adjusted returns and seeks to diversify investments by manager, industry, geography, investment strategy, investment stage and vintage year. The Company seeks to opportunistically build a well balanced diverse, global private equity portfolio through secondary investments, co-investments, and selective primary fund allocations. It was launched on 30 June 2005.
JPEL has returned 21.9% and 19.5% in annualized NAV growth and equity share price growth since 30 June 2005, respectively.
As at 30 June 2008, the Company was invested in 161 funds and 11 direct investments. The ten largest investments were:
| Underlying Fund Name | % of Total Assets |
| Hunter Acquisition Limited | 7.4% |
| Global Opportunistic Fund | 5.6% |
| Alcentra Euro Mezzanine No1 Fund LP | 3.4% |
| OCM European Principal Opportunities Fund, L.P. | 3.2% |
| Liberty Partners II, L.P. | 3.1% |
| Avista Capital Partners (Offshore), L.P. | 3.1% |
| Omega Fund III, L.P. | 3.1% |
| Hutton Collins Capital Partners II LP | 3.0% |
| Esprit Capital I Fund | 2.9% |
| Almack Mezzanine I Fund LP | 2.6% |
About JPMorgan Asset Management Investment Trusts
JPMorgan Asset Management manages the largest range of investment trusts in the UK. With £6.1bn assets under management, the group manages a total of 20 investment trusts and companies, covering key regions, countries and sectors.
For further information please contact:
JPMorgan Asset Management
Jayne Bowers
Telephone: 020 7742 8337
Email: jayne.e.bowers@jpmorgan.com
J.P. Morgan Private Equity Limited
Rosemary DeRise
Telephone: 1 212 272 8756
Email: rosemary.derise@jpmorgan.com
Lansons Communications
Charlie Field
Telephone: 020 7294 3616
Email: charlief@lansons.com
Peregrine Communications
Paul Mungo
Telephone: 020 3178 6872
paul.mungo@peregrinecommunications.co.uk
Notes to Editors
JPMorgan Asset Management is part of J.P. Morgan Chase & Co. and is a global asset management leader providing world-class investment solutions to clients. With US$1.2 trillion in assets under management (the Asset Management client funds of JPMorgan Chase & Co. as at June 30th 2008) and offices in 40 locations around the world, JPMorgan Asset Management offers global coverage with a strong local market presence, and leadership positions in most asset classes.
JPMorgan Asset Management is a trading name of JPMorgan Asset Management Marketing Limited which has issued this material in the United Kingdom and which is authorised and regulated by the Financial Services Authority. Registered in England No. 288553. Registered office: 125 London Wall, London EC2Y 5AJ.
Any past performance referred to in this material is not a guide to future performance and the value of investments, and any income from them, can fall as well as rise. Any tax concessions referred to are not guaranteed and their value will depend on the individual circumstances of investors. Stock market linked investments carry a number of inherent risks. These risks will increase where fluctuations in exchange rates impact on the value of any underlying investments or where the investment is exposed to smaller companies or emerging markets. Investments in fixed income securities that are not rated as investment grade represent a greater risk to an investor's capital.