JPMorgan Asset Management has launched Junius Real Estate Partners, a fund that will invest in part in distressed real estate assets. The new fund, which is expected to begin operations within the next 18 months, will operate as a boutique with only seven or eight employees, who will each have a significant stake in it. Joseph Azelby, head of the bank’s global assets groups, said there is currently about $84 billion in distressed real estate.
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