JPMorgan puts fundraising for new opportunistic fund on pause

New York /
Mar.March 13, 2012 06:30 PM

JPMorgan Chase has halted its efforts in creating a $750 million real estate fund, named Junius Real Estate Partners, due to a lack of interest in the high-risk and high-return deals it had planned, the Wall Street Journal reported.

An unnamed source told the Journal that, despite the setback, Junius will restart fundraising efforts sometime in the future. According to the paper, Junius had recently made its first investment: the Salamander Resort & Spa, located in Middleburg, Va. It’s set to open next year, featuring 168 rooms and suites, plus an equestrian farm.

This decision marks the latest example of a “brand-name” firm having problems meeting real estate fund-raising goals, the Journal wrote, especially with funds that focus on risky investments. For example, Apollo Global Management has had trouble reaching its $650 million goal for a new property fund, the Journal said.

Junius is JPMorgan’s first foray into opportunistic funds, according to the Journal. [WSJ] 


Related Articles

arrow_forward_ios
JPMorgan CEO Jamie Dimon and 270 Park Avenue (Getty, Google Maps)
JPMorgan Chase will embrace “flexible” design for 270 Park HQ
JPMorgan Chase will embrace “flexible” design for 270 Park HQ
David Wolkoff of G&M Realty. (Getty, 5Pointz LIC)
Wolkoff family firm snags $350M loan for 5Pointz
Wolkoff family firm snags $350M loan for 5Pointz
The “flexible hybrid model” is set to debut in July in North America (iStock)
Et tu, Ford? Automaker lets 30K workers stay home post-pandemic
Et tu, Ford? Automaker lets 30K workers stay home post-pandemic
55-15 Grand Avenue, Queens; Phil A. Belling of LBA Realty; Jamie Dimon of JPMorgan Chase (Getty, RXR/BL Architects)
LBA lands $316M loan for Amazon warehouse in Maspeth
LBA lands $316M loan for Amazon warehouse in Maspeth
 JPMorgan’s Marianne Lake (Getty, iStock)
JPMorgan walks back some mortgage constraints
JPMorgan walks back some mortgage constraints
JPM asset CEO Mary Callahan Erdoes and 605 Third Avenue (Getty; Google Maps)
JPMorgan eyes $600M valuation for Third Ave office tower
JPMorgan eyes $600M valuation for Third Ave office tower
Cushman & Wakefield CEO Brett White and JPMorgan CEO Jamie Dimon (Cushman & Wakefield; Getty)
Cushman’s $3B debt load poses default risk
Cushman’s $3B debt load poses default risk
JPMorgan Chase CEO Jamie Dimon (Getty, iStock)
JPMorgan wants to invest $700M building rentals in Sun Belt states
JPMorgan wants to invest $700M building rentals in Sun Belt states
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...