JPMorgan Chase & Co.'s asset management arm has reached a preliminary agreement for a $20 billion partnership with the Qatar Investment Authority. Under the deal, JPMorgan Asset Management will manage $15 billion in customized global equity portfolios for QIA, while a separate $5 billion initiative will see the two firms provide senior financing to middle-market companies in the United States. QIA CEO Mohammed Saif Al-Sowaidi said the collaboration would play an important role in unlocking new opportunities for both firms to generate long-term value. The agreement follows QIA's January move to expand its partnership with Goldman Sachs, targeting $25 billion in investments, and comes as Qatar's prime minister announced a new QIA division dedicated to developing domestic investments. The $20 billion figure is a preliminary agreement rather than immediately realized revenue, and the article notes it cannot yet be determined how much the mandates will contribute to JPMorgan's revenue or earnings.
JPMorgan Chase & CoJPMorgan Asset Management reached a preliminary $20B partnership to manage QIA mandates, a potential revenue-generating deal
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