Business

JPMorgan raising up to US$1.5 bln Asia infrastructure fund

A man walks into the JP Morgan headquarters at Canary Wharf in London in this May 11, 2012 file photo. — Reuters picA man walks into the JP Morgan headquarters at Canary Wharf in London in this May 11, 2012 file photo. — Reuters picHONG KONG, Feb 22 — JPMorgan Chase & Co is targeting to raise between US$1 billion (RM3 billion) and US$1.5 billion in a dedicated fund to invest in core infrastructure assets across Asia, sources familiar with the matter told Reuters today.

The fund, JPMorgan Asian Infrastructure & Related Resources Opportunity Fund II, will invest in transportation, power generation, water and social infrastructure across China, India, Indonesia, the Philippines, Thailand and South Korea, the sources said.

The sources declined to be named, as they were not authorised to speak to the media since the fund raising was still private.

A Hong Kong-based spokesman for JPMorgan declined to comment. — Reuters

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