The investment fund was closed in April 2010 with $330m of equity commitments and is expected to finish with $500-$600m of equity commitments.
JP Morgan’s real estate administration offering combines the firm’s private equity and infrastructure fund and alternative asset portfolio administration capabilities with services designed for the real estate asset class.
Services for real estate fund sponsors include: fund and partnership accounting, property consolidation, REIT test facilitation, waterfall administration, tax and investor relations support, document management and online investor portals.
True North CFO Desmond McGowan said JP Morgan’s unique services will provide strong administrative controls, ensure investor confidence and provide effective transparency, enabling True North to focus on investment activities.
