JP Morgan raises $480m

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JP Morgan Asset Management has raised $480 million to date for its Global Maritime Investment Fund II. The New York-headquartered firm has set a $400 million target and began fundraising in 2015.

Its previous fund raised $780 million in 2012.

Investors that committed to Global Maritime Investment Fund II include pension plans, insurance companies, and endowment and health care entities.

The fund will target unlisted equity opportunities in transport sectors globally.