London, 21 November, 2011 - J.P. Morgan's Worldwide Securities Services (WSS) business today announced it has been appointed by Gulf Capital Equity Fund Associates to provide private equity fund administration services to the GC Equity Partners Fund II, a late stage fund with in excess of $500 million of committed capital.
Gulf Capital is one of the largest Middle Eastern private equity firms, focusing primarily on late-stage control buy-outs, growth capital, real estate development and credit business. GC Equity Partners Fund II was the first ever regional private equity fund to derive the majority of its investors from international markets including the USA, Europe and Asia. Investors in the fund include some of the largest and best known global and regional sovereign wealth funds, pension funds, endowments, banks and insurance companies.
Muhannad Qubbaj, Head of Business Development, Private Equity, at Gulf Capital, said: "This fund puts us at the forefront of private equity investing with one of the largest private equity funds raised in the region. J.P. Morgan is a leading international private equity administrator and has the scale of service and industry knowledge necessary to help us create maximum value and transparency for our large client base."
Brian Coughlin, Asset Managers and Alternative Investments Markets Manager, EMEA for J.P. Morgan Worldwide Securities Services, said: "J.P. Morgan has done business on the ground in the Middle East for 50 years. This long-standing commitment means J.P. Morgan has a deep understanding of the securities services needs of investors in the Gulf, a region which is experiencing significant growth. We look forward to working with Gulf Capital and helping them best serve their investors by providing them with market-leading client service."
Timothy Peters, General Manager of J.P. Morgan's Abu Dhabi Office and Head of WSS MENA commented: "The challenges around private equity administration are set to increase in complexity driven by new regulation facing the industry. J.P. Morgan is uniquely positioned to help investors meet these complexities and focus on maximizing returns for investors. Through a combination of our regional MENA office network and the award winning private equity administration team, we look forward to assisting asset managers and investors in this growth area of investment."
About Gulf Capital
Gulf Capital is a leading alternative asset management firm. Its investors are focused primarily on investing capital in the GCC region. Incorporated in Abu Dhabi in 2006 as a Private Joint Stock Company, Gulf Capital was established with a capital base of AED 1.225 billion (USD 330 million) from 300 of the most prestigious institutional and individual investors in the Gulf. Gulf Capital investors are focused on acquiring sizeable and majority stakes in highly profitable and rapidly growing companies within a select number of fast-growing industries in the GCC region. Gulf Capital recently expanded its alternative asset management platform by entering into the real estate development arena in a joint-venture with the Related Companies, the most prominent US real estate developer, to form Gulf Related. The Firm also recently announced the launch of a Credit Business to meet the financing needs of fast growing companies across the region. With its private equity, real estate and credit initiatives, Gulf Capital is today one of the largest alternative asset managers in the Middle East. For more information about Gulf Capital www.gulfcapital.com
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A., WSS leverages the firm's global scale, leading technology and deep industry expertise to service investments around the world. It has $16.3 trillion in assets under custody and $7.2 trillion in funds under administration. For more information, go to www.jpmorgan.com/wss.
About J.P. Morgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.