JPMorgan raising up to $1.5 bln Asia infrastructure fund -sources

MUMBAI/HONG KONG Fri Feb 22, 2013 3:46am EST

MUMBAI/HONG KONG Feb 22 (Reuters) - JPMorgan Chase & Co is targeting to raise between $1 billion and $1.5 billion in a dedicated fund to invest in core infrastructure assets across Asia, sources familiar with the matter told Reuters on Friday.

The fund, JPMorgan Asian Infrastructure & Related Resources Opportunity Fund II, will invest in transportation, power generation, water and social infrastructure across China, India, Indonesia, the Philippines, Thailand and South Korea, the sources said.

The sources declined to be named, as they were not authorised to speak to the media since the fund raising was still private.

A Hong Kong-based spokesman for JPMorgan declined to comment.