JP Morgan Asset Management said that it would turn to institutional investors in India and other Asian countries to raise US$750 million.
According to the Economic Times, JP Morgan intends to use this fund to support the company's shipping portfolio. This comes after JP Morgan Chase & Co increased its H shareholding in China Shipping Container Lines (CSCL) from 9.85 percent to 10.07 percent.
JP Morgan's strategy is to purchase lower-priced vessels such as bulkers, oil tankers and containerships and lease them to other companies requiring marine transport services.