IFC Asset Management Picks JP Morgan As Administration Partner

Vanessa Doctor

6 May 2010

IFC Asset Management Company has chosen JP Morgan to provide outsourced private equity accounting and fund administration services for the company.

Under the agreement, JP Morgan will provide AMC's IFC Capitalization Fund and IFC African, Latin American and Caribbean Fund with a range of services, including fund and partnership accounting, treasury services, capital call and distribution management, tax support services, and others. AMC was established in 2009 to manage private equity funds comprising third-party capital and $4 billion in assets under management.

"We believe that investments in emerging markets, especially frontier markets, represent a growing asset class that can bring increased diversification and long-term return opportunities to investors," said Ruth Horowitz, the chief administration officer of AMC.

JP Morgan provides administration services to over 100 clients with $225 billion in alternative assets worldwide.