JPMorgan Wins SEC Approval for Monthly Redemptions, 2% Floor in Private Credit Fund

JPMorgan received SEC approval for a private credit fund allowing monthly redemptions with a 2% minimum repurchase floor at net asset value, marking a departure from the industry's standard quarterly model. The fund's quarterly aggregate repurchases are capped between 5% and 25% of outstanding shares, protecting portfolio managers from overwhelming withdrawal demands. The approval was granted under sections 6(c) and 23(c)(3) of the Investment Company Act, with JPMorgan having filed its application on March 19, 2026, and the SEC notice published May 29 indicating the order would issue by June 22.
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