Private Equity Fund Eyes Total Return Swaps
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Derivatives

Private Equity Fund Eyes Total Return Swaps

JP Morgan Partners, a private equity arm of JPMorgan Chase, is considering using total return swaps in its impending J.P. Morgan Incubator Fund, a fund of hedge funds. Simon Lack, ceo and president of JPMorgan Incubator Strategies, the division of JPMorgan Partners charged with making investments in new hedge funds, said it may use the swaps, for the first time, where they can increase the potential exposure to hedge funds.

The manager will be free to use derivatives houses other than JPMorgan and will select counterparties according to price and credit rating, said Lack.

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