JPMorgan Builds Private Capital Team as Banks Chase Companies Staying Private Longer
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Following the Money Into Private Markets
JPMorgan Chase & Co. (JPM) is doing what smart banks do when the game changes: adapting. The Wall Street giant has quietly launched a new team called Private Capital Advisory and Solutions, designed to help companies raise money without actually going public. Think of it as relationship counseling for companies and private investors.
The team will handle mergers-and-acquisitions advice while working alongside JPMorgan's capital-markets division, according to a Thursday report from The Wall Street Journal. Their job is pretty straightforward: connect investors with companies hunting for private capital, and provide guidance on everything from early-stage equity raises to preferred stock, convertible bonds, secondary funds, and various private-equity fundraising options.
Why the new focus? Because companies have figured out they don't always need big banks for capital anymore. Private credit and private equity have exploded, and JPMorgan is essentially making sure it doesn't get left behind. The bank is expanding its private-credit business and beefing up research coverage of private companies to stay in the game.
The strategy, according to the report, is to offer clients everything they might need so they pick JPMorgan regardless of which financial product they're shopping for. Smart move when your customers are finding alternative routes.
But Wait, IPOs Are Coming Back
Here's where it gets interesting. JPMorgan is building out private-market capabilities right as the IPO market is expected to roar back to life. Morgan Stanley (MS) recently reported a solid 2025 performance with revenue up 10% year-over-year. CFO Sharon Yeshaya is optimistic about 2026, predicting more IPOs and continued M&A activity, especially in healthcare, industrials, and sponsor-led sectors.
There are already signs of life. Honeywell International Inc. (HON) saw its stock climb after Quantinuum LLC, its majority-owned quantum computing subsidiary, started moving toward a potential public offering.
Even with mega IPOs potentially on the horizon, private markets aren't going anywhere. Some companies are quietly gearing up for under-the-radar IPOs that are already catching investor attention, according to prediction market data. Names like Cerebras Systems, Kraken, Databricks, and Discord are expected to announce public offerings before 2027.
So JPMorgan's play makes sense: build the infrastructure to serve companies while they're private, and you'll be their first call when they're ready to go public. It's not either-or anymore. It's both.
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