J.P. Morgan Asset Administration has launched a new life sciences personal fairness group concentrating on early and expansion-stage wellbeing-care corporations, spokesman Sam Wallman mentioned in an e mail.
Primary the staff is Stephen Squinto, managing spouse and chief financial commitment officer of existence sciences private cash. Mr. Squinto, who is centered in New York and reviews to Brian Carlin, CEO of J.P. Morgan personal cash, was earlier an government partner with OrbiMed Advisors. W. Carter Neild, handling partner at OrbiMed, could not be immediately achieved for even more information and facts.
Also signing up for J.P. Morgan as co-managing associates of the new existence sciences private funds team are Gaurav Gupta (also based in New York) and Anya Schiess (based mostly in San Francisco). Equally report to Mr. Squinto.
Mr. Gupta was beforehand founder of lifetime science financial investment business Ascendant BioCapital, and Ms. Schiess was formerly co-founder and basic partner of early phase undertaking cash business Wholesome Ventures. Officials at Ascendant BioCapital and Balanced Ventures could not be right away reached for further more details.
As of Sept. 30, J.P. Morgan Asset Management had $2.3 trillion in property below administration, of which its world wide solutions arm had $208 billion in AUM.