#United States #New York #J.P. Morgan #Rand Araskog #Eric Ghernati

J.P. Morgan Private Capital Expands with New Leadership

The investment landscape is evolving, and J.P. Morgan Private Capital is adapting strategically to this change. On March 31, 2026, the firm announced the appointments of Rand Araskog and Eric Ghernati as partners, tasked with focusing on investments in leading growth companies.

The Context of Change

Over the past few decades, there has been a significant shift in the capital markets, with companies remaining private for increasing lengths of time. A striking statistic notes that the median age of IPOs for U.S. technology companies has nearly tripled, climbing from five years in 1999 to fourteen years as of 2024. Compounding this trend, global private market assets have skyrocketed from about $1 trillion to an astonishing $20 trillion in just two decades. This expansion has blurred the lines that traditionally separated public from private markets, leading to the emergence of a substantial number of private technology firms — over 800 valued at more than $1 billion, collectively worth nearly $4 trillion.

J.P. Morgan Private Capital recognizes this transformation as an opportunity to bolster its investment strategy by enhancing its team with experienced professionals who can navigate both public and private markets effectively.

New Partners with Vast Experience

Paris Heymann, Managing Partner of Technology Investing at J.P. Morgan Private Capital, expressed enthusiasm about the new hires: "We're thrilled to have Rand and Eric join the Private Capital team. Their extensive investment expertise across both public and private markets will help us continue supporting high-growth companies effectively and at scale."

Rand Araskog

Rand Araskog brings a wealth of experience in technology investments to the table. Previously a Managing Director at Permira, he successfully led a strategy for the firm’s $4 billion growth fund and has a strong track record in public equity investments. His role at Permira involved building dedicated systems and teams to enhance operational efficiency. Before that, he honed his skills as an analyst at Coatue, where he was involved in enterprise software and technology investments. He began his career in investment banking at Goldman Sachs and holds a B.A. from Duke University and an M.B.A. from Harvard Business School.

Eric Ghernati

Eric Ghernati has been with J.P. Morgan Asset Management since 2020, working primarily in the U.S. Equity Group where his focus was on technology strategies across various market caps. He co-managed the J.P. Morgan U.S. Tech Leaders Strategy, showcasing his capability and insight in the technology sector. Before joining J.P. Morgan, Ghernati spent significant time at Lord Abbett covering technology investments for various strategies and also worked for 15 years at Bank of America Merrill Lynch. He possesses a B.S. in Finance from San Francisco State University.

Future Goals

Patrick McGoldrick, Managing Partner at J.P. Morgan Private Capital, emphasizes the firm's commitment to scaling its platform: "We see substantial opportunities to expand the Private Capital platform. The addition of Rand and Eric will allow us to develop unique strategies in growth investing and collaborate with some of the world’s most innovative companies."

Jed Laskowitz, Global Head of Private Markets and Customized Solutions, reiterated the growing client interest in the convergence of public and private equity, stating, "Rand and Eric’s extensive experience in growth markets will be crucial in delivering distinct solutions to meet our clients’ needs."

The Road Ahead

As J.P. Morgan Private Capital integrates these new leaders into its strategy, the firm aims to remain at the forefront of investment management, responding to market trends and client demands with agility and expertise. The continued adaptation to an evolving market landscape positions J.P. Morgan Private Capital favorably for future growth and innovation in investment opportunities.