QIA, JP Morgan Asset Management Sign $20 Billion Public and Private Markets Deal

The Qatar Investment Authority will work with JP Morgan Asset Management under a $20 billion strategic partnership that spans public equities and private markets, the two institutions said Monday.

The agreement, set out in a memorandum of understanding, divides the money into two mandates. JPMAM will run customized global equity portfolios for QIA under a $15 billion allocation, using its active equity capabilities, its investment platform and its research resources around the world. The equity portfolios are actively managed for the sovereign wealth fund rather than tracking an index.

The remaining $5 billion goes to private markets, where the target is senior financing for established middle-market companies across the United States. Industrials, services, healthcare and technology are the sectors in scope.

For QIA, the deal widens its access to global markets as it extends its long-term investment program. The fund gains exposure to JPMAM's capabilities in equities and credit, and both organizations expect to exchange investment expertise as the relationship develops.

Mohammed Saif Al-Sowaidi, QIA's chief executive, said the partnership gives the fund access to a leading global equity and private credit platform and creates room for the two sides to learn from each other. “We are pleased to grow our partnership with J.P. Morgan Asset Management and gain access to one of the world's leading global equity and private credit platforms,” he said.

We are pleased to grow our partnership with J.P. Morgan Asset Management and gain access to one of the world's leading global equity and private credit platforms,

Mary Callahan Erdoes, chief executive of J.P. Morgan Asset and Wealth Management, described the arrangement as a pairing of her firm's global investment capabilities with QIA's standing as a large institutional investor.

JPMAM's platform is broad. The manager reported $4.6 trillion in assets as of June 30, 2026, spread across equities, fixed income, real estate, hedge funds, private equity and liquidity strategies. Its parent, JPMorgan Chase & Co., held $5 trillion in assets and $375 billion in stockholders' equity on the same date, and operates in investment banking, consumer and commercial banking, payments and asset management.

The two programs bring together QIA's long-horizon institutional approach on one side and JPMAM's platform across listed and private markets on the other. QIA already had a relationship with JPMAM, and the MoU extends it, adding another route for the fund to deploy capital through equities and private credit.

Both institutions said the framework is built around continuing investment dialogue, joint programs and a direct exchange of ideas between the two organizations.