Bear Stearns Private Equity has changed its name to JPMorgan Private Equity.
The London-listed fund of funds vehicle will also change its ticker from BPLE to JPEL, moves which reflect its becoming a part of the JPMorgan Asset Management division following the sale of Bear Stearns to JPMorgan in March.
Led by Gregory Getschow and Troy Duncan, the $600 million (€416 million) fund of funds will continue to be managed and make investment decisions as it had in the past, according to a statement.
The changes become effective in several weeks, pursuant to approval from the Guernsey Registry.
JP Morgan Private Equity makes direct and secondary private equity investments in Europe, North America and Asia and holds investments with fund managers including Oaktree Capital Management, Avista Capital Partners, 3i and Greenhill & Co.
Since listing in June, the vehicle has returned 21.9 percent and 19.5 percent in annualized NAV growth and equity share price growth, respectively.
Bear Stearns Merchant Banking, Bear Stearns' private equity arm, confirmed in June it was working to become a private equity firm independent of JPMorgan.