New additions will help drive rapid growth of private credit platform
J.P. Morgan Global Alternatives has added two new members to its private credit team as it continues to grow its private lending platform.
“We have witnessed significant growth across our private credit platform over the last 18 months, and the addition of Raphael’s expertise in mortgage and asset-backed lending will help us build on this momentum as we continue to provide clients with unique opportunities to drive alpha within portfolios,” said Meg McClellan, head of private credit at J.P. Morgan Private Capital. “The significant growth in assets in our commercial mortgage loan business the past 12 months is testament to our team’s ability to source and execute on debt opportunities.”
The bank’s alternative investment arm recently appointed Raphael Gonzalez as managing director and senior investment specialist focusing on commercial mortgage loans, infrastructure debt, and direct lending. The 20-year industry veteran joined J.P. Morgan from Exos Financial, where he served as a managing director.
J.P. Morgan has also hired Kelly von Schmid as a commercial real estate originator. In this role, Schmid will source new lending opportunities on behalf of commingled funds and separate accounts managed by J.P. Morgan Asset Management. Prior to joining the bank, she spent more than a decade at BBVA USA, where she most recently served as CRE relationship manager.
The move is in line with the expansion of J.P. Morgan’s commercial mortgage loan (CML) business, which has doubled its assets under management to $7.6 billion over the past several months. The CML group is on track to reach $10 billion in assets in 2022, according to a release.
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“Our commercial mortgage loan business has grown significantly over the past year, with strong investor demand for these strategies driven by the attractive yield premiums and diversification potential offered relative to investment-grade corporate bonds,” said Jay DeWaltoff, head of commercial mortgage lending at J.P. Global Morgan Alternatives. “J.P. Morgan’s CML team has a unique ability to deliver end-to-end lending solutions to borrowers, allowing us to be nimble in executing deals. The addition of Kelly to the team will further build on our deep origination capabilities, which has delivered strong performance through the COVID pandemic.”
