Qatar Investment Authority and J.P. Morgan Asset Management signed a memorandum of understanding establishing a $20 billion investment partnership across public equities and private credit. J.P. Morgan Asset Management will build a tailored $15 billion global equity portfolio for QIA, while a $5 billion private-markets program will provide senior financing to US middle-market companies in industrials, services, healthcare and technology. The deal is QIA's second large Wall Street asset-management commitment this year, following its January agreement to commit up to $25 billion to Goldman Sachs Asset Management, bringing its potential allocations through the two managers to as much as $45 billion. QIA manages about $580 billion in assets, while J.P. Morgan Asset Management oversaw $4.6 trillion as of June 30, 2026.