New Mill Capital Holdings, LLC ("NMC") and J.P. Morgan Asset Management – Global Real Assets ("GRA") announced a strategic partnership between institutional investors advised by J.P. Morgan Asset Management and NMC to jointly pursue acquisitions of surplus industrial equipment and real estate from U.S. corporations.
The partnership will seek to provide liquidity to corporations seeking an accelerated and efficient solution for equipment and real estate assets, leveraging both GRA and NMC's expertise, track record and relationships. In the last five years, NMC has grown to become one of the largest investors in closed turnkey manufacturing plants in the United States, with over 10 million square feet transacted with a variety of Fortune 500 companies. GRA, through its Tactical Direct Investments team, helps meet client demand for bespoke direct and co-investment real asset opportunities across the risk/return spectrum and around the world. GRA currently manages more than $15 billion of direct separate account and co-investment transactions globally on behalf of clients.
"This partnership marks a new phase of growth for us as we continue to build on our successes in unlocking value in the industrial space," said Co-Founder and Principal Gregory Schain. "New Mill Capital's partnership with J.P. Morgan Global Real Assets will enable us to deliver more scalable liquidity solutions for both existing and new counterparties. We are thrilled to begin a new chapter for our investors and employees."
"As consumer preferences change, companies continue to adapt by consolidating plants and monetizing surplus real estate and equipment," said Avik Mukhopadhyay, Head of Tactical Direct Investments at J.P. Morgan Asset Management – Global Real Assets. "Through partnerships with platforms such as New Mill Capital, J.P. Morgan Global Real Assets can offer its clients access to deep value opportunities that are less correlated to public market pricing volatility."
New Mill Capital specializes in providing comprehensive asset solutions for the industrial marketplace. Primary services include turnkey acquisitions of closed industrial plants, value-added equipment liquidation and monetization, webcast and online auctions, and traditional sales transactions. NMC has acquired over 10 million square feet of plants since 2011 and has conducted auctions and/or liquidations for industries ranging from food processing and packaging to steel, semiconductor, cosmetics and textiles. NMC is headquartered in New York, NY and has offices in Calabasas, CA, Grand Rapids, MI, Kansas City, MO and Austin, TX.
J.P. Morgan Asset Management – Global Real Assets has more than $90 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia Pacific, as of March 31, 2016. With a 45-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets' broad capabilities provide many of the world's most sophisticated investors with a global platform of real estate, infrastructure and transportation strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.