J.P. Morgan Asset Management and AARP create Innovation Fund

Oct 01, 2015

Press Release

New York — AARP and J.P. Morgan Asset Management are announcing the formation of the AARP Innovation Fund, a first of its kind investment fund with approximately $40 million in assets that will provide capital to innovative companies focusing on improving the lives of people 50-plus. As the sole third party investor in this fund advised by J.P. Morgan Asset Management, AARP will make direct investments in innovative companies that meet its mission and strategic goals. AARP partnered with J.P. Morgan Asset Management’s Endowments & Foundations Group and its Private Equity Group to source and evaluate potential investments for the fund.

“AARP has a strong history of leading innovation by changing the marketplace,” said Jo Ann Jenkins, CEO of AARP. “Our members are disrupting aging in a variety of ways and so is AARP. The AARP Innovation Fund is the next evolution of our ability to fulfill our social mission by making sure that the needs and interests of those 50-plus are well represented by products and companies.”

The AARP Innovation Fund will make direct investments in early- to late-stage stage companies developing innovative products in three healthcare related areas:

In addition to financial support, some companies receiving these investments will have access to AARP’s knowledge and distribution channels to help 50-plus consumers have the opportunity to benefit from these innovative products and services.

“We look forward to working with AARP on this fund that will invest in and support innovative companies creating solutions for the people in this powerful and growing key demographic and their families,” said Kathy Rosa, Managing Director and Portfolio Manager in J.P. Morgan Asset Management’s Private Equity Group. “Our knowledge of the market, combined with AARP’s expertise on the wants and needs of those 50-plus, is a powerful combination that will help the AARP Investment Fund invest in innovative companies in the consumer healthcare space.”

People 50-plus are online, connected and make use of technology that is intuitive and consumer friendly. They have tremendous buying power – responsible for at least $7.1 trillion in annual economic activity – a number that is expected to grow to $13.5 trillion by 2032. Companies working with the AARP fund have a great opportunity to grow the double bottom line:  They can increase revenue and improve the lives of Americans as they age.

Jenkins concluded: “The Innovation Fund showcases AARP’s ability to generate bigger, bolder solutions that will disrupt aging, increase our impact on and drive relevance for the 50-plus population.”

B-roll/video about the Innovation Fund can be found here: https://vimeo.com/aarpbroadcast/review/140975010/c07b26a4df

For more information about the AARP Innovation Fund, please contact Jeffrey Davis, Senior Vice President, Media Relations, jrdavis@aarp.org.

 

About AARP
AARP is a nonprofit, nonpartisan organization, with a membership of nearly 38 million, that helps people turn their goals and dreams into real possibilities, strengthens communities and fights for the issues that matter most to families such as healthcare, employment and income security, retirement planning, affordable utilities and protection from financial abuse. We advocate for individuals in the marketplace by selecting products and services of high quality and value to carry the AARP name as well as help our members obtain discounts on a wide range of products, travel, and services. AARP does not endorse candidates for public office or make contributions to political campaigns or candidates. The AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. AARP has staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Learn more at www.aarp.org. @AARPMedia #DisruptAging

 

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