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J.P. MorganJ.P. Morgan
Platform series

PEG Insurance Dedicated Fund 2026

A series of SALI Multi-Series Fund, L.P., an insurance-dedicated platform, managed by J.P. Morgan Investment Management Inc., following a private equity (fund of funds) strategy. This file sets out what the fund and its adviser have filed with the SEC.

AdviserJ.P. Morgan Investment Management Inc.
StrategyPrivate equity (fund of funds)
StructureDelaware limited partnership, 2026
Gross assetsUSD 200.0 million
AuditorPricewaterhouseCoopers LLP
Adviser's record9 matters reported
Ask about this fundManager fileAll funds
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Fund Rating
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Editorial assessment on UHNW criteria
Reviewed 4 November 2026 · Q4 2026 edition
Updated every quarter
Research byPPLI.com Fund IntelligenceResearch desk
About the rating
In brief

PEG Insurance Dedicated Fund 2026 at a glance

The fund relies on Section 3(c)(7) of the Investment Company Act and Rule 506(b), so its interests go only to qualified purchasers in a private offering. The adviser reports one beneficial owner and none outside the United States. As an insurance-dedicated fund it is held through insurance company separate accounts, alongside the few other holders the Treasury rules allow, and a family reaches it through a policy whose insurer offers it.

It is a series of SALI Multi-Series Fund, L.P., a platform run by SALI Fund Management, LLC (SALI Fund Services), whose Form ADV of 25 August 2026 reports the series' controls; J.P. Morgan Investment Management Inc. manages the investments.

One point to raise with the insurer: the filing reports that 0% of the fund's assets were valued in the last fiscal year by a person that is not related to the adviser. NESF Fund Services Corp. is the administrator. The figure does not show how prices were set or checked, which is a question for the insurer.

J.P. Morgan Investment Management Inc. reports 9 regulatory actions in Item 11 of its Form ADV between 2016 and 2024, 2 concerning the adviser itself and the rest other companies in its group, with reported sanctions of about USD 506 million. The full record is set out below.

The rating

The rating of PEG Insurance Dedicated Fund 2026

The rating looks only at the areas below, which matter to a family holding the fund through a private placement policy. Past returns play no part: these funds do not report them in their SEC filings, and they say little about what a policy will earn.

Conduct and regulatory record

What regulators and courts have recorded against the manager, and for platform series against the platform, as the advisers report it to the SEC. Several proceedings on one set of facts count as one matter. Recent and serious matters count most, matters of other companies in the group count for less, matters of individuals are weighed by the person's role and their bearing on the business, and the size of the firm is taken into account.

Reported controls

What the adviser reports to the SEC for the fund: whether the accounts are audited every year by an accountant registered with the PCAOB and subject to its regular inspection, whether audited statements go to investors and what the audit opinion says, whether the administrator and custodian are outside the adviser's group, and what share of the assets was valued last year by a person not related to the adviser.

Depth and experience of the manager

The assets the manager runs, its investment staff and how long it has been registered with the SEC.

Fund scale and investor base

The fund's gross assets, the number of its owners and how long it has been offered.

Reporting and filings

Whether the fund and its adviser keep their SEC filings current and consistent with each other.

Fit for a life insurance policy

Whether the fund is insurance-dedicated, so that a policy can hold it, and the minimum it asks. Liquidity terms join this element as they are documented.

Investor experience. What policyholders, insurers and advisers tell us is shown separately and never changes the stars. A factual point they raise is checked against the filings, and if it holds, the data is corrected. We never publish names. Tell us about yours

The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the fund or its manager, not a credit rating, not a forecast of returns and not investment advice. Read about the rating.

The fund at a glance

Identity, offering and service providers

Identity

Legal namePEG Insurance Dedicated Fund 2026 Series of the SALI Multi-Series Fund, L.P.
OrganisedDelaware limited partnership, 2026
SEC CIK0002126719  EDGAR
Private fund ID805-7198432521  ADV
Investment managerJ.p. Morgan Investment Management Inc.  IAPD
PlatformSALI Multi-Series Fund, L.P.  IAPD

Offering, as filed on Form D

ExemptionsRule 506(b); Investment Company Act s. 3(c)(7)
First sale1 April 2026
Minimum investmentUSD 100,000,000
Amount soldUSD 200.2 million to date
Investors in the offering1
Sales commissionsNone reported
Latest filingForm D/A, 11 September 2026  Source

Size and ownership, as filed on Form ADV

Gross asset valueUSD 200,000,000 (ADV filed 25 August 2026)
Beneficial ownersAbout 1
Owned by non-US persons0%

Service providers

AuditorPricewaterhouseCoopers LLP
CustodianFrost Bank; Wells Fargo Bank, N.a
AdministratorNESF Fund Services Corp.
Prime brokerNone reported
Valued by a person not related to the adviser0% of assets, last fiscal year

Figures are shown as filed, with their dates. Form D counts investors in the offering and Form ADV counts beneficial owners, so the two numbers need not match. Gross asset value counts total assets without deducting borrowings or other liabilities, so it is not a net asset value. The minimum on Form D can be nominal; the amount a family actually needs is set by the insurer and the policy.

Inside a policy

What to check before this fund goes into a policy

Why the wrapper matters here

Private equity returns arrive as gains when companies are sold, often years apart, and as distributions along the way. Inside a policy that meets the tax rules neither is taxed as it arrives, and the policy's death benefit passes to the beneficiaries free of income tax under section 101(a), subject to the policy's terms.

Liquidity

The fund's redemption terms are not in its public filings. Read them in the offering documents and set them against the way the policy will need cash: loans, withdrawals and the insurer's own rules for moving between funds.

Who chooses the investments

The policyholder can choose this fund from the insurer's menu but cannot direct what the fund buys. That line comes from the investor control rules, and it is the reason the fund exists in a separate insurance-only form.

Diversification

A policy's separate account must meet the diversification test of section 817(h). Because the fund is reached only through insurance policies, the test can look through to its assets if the fund meets the conditions of the Treasury rules; whether a given account passes is a question for the insurer, not something these filings show.

Valuation

SALI reports that none of the fund's assets were valued last year by a person outside its group. Ask the insurer how it checks the price at which the account buys, sells and reports this fund.

Fees

Management and performance fees are set in the offering documents and are not shown in these filings. They come on top of the policy's own charges.

This is research, not an offer of the fund or advice to buy it. Interests in the fund are available only through an insurance company, and only to investors who qualify.

The adviser's record

Regulatory and legal record of J.P. Morgan Investment Management Inc.

The full list for the firm is in the manager file.

What the adviser itself discloses in Item 11 of its Form ADV, summarised from the disclosure pages, with a link to the filing. Item 11 is filed for the adviser as a whole, so under each matter the fund it concerns is read from the disclosure itself.

202431 October 2024

Regulatory action by US Securities and Exchange Commission: cease and desist

Fund concerned: none named in the filing. The matter concerns the adviser itself, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On October 31, 2024, j.p. Morgan Investment Management, Inc. ("JPMIM") entered into a settlement with the Securities and Exchange Commission ("SEC") resulting in the SEC issuing an administrative order (the "order"). Without admitting or denying the findings in the order, JPMIM consented to the entry of the order, which found that JPMIM caused jp Morgan Securities LLC ("JPMS") to violate Section 17(a)(1) of the Investment Company Act of 1940 ("Investment Company Act") and that JPMIM willfully violated Sections 206(3) and (4) of the Investment Advisers Act of 1940 ("Advisers Act") and Rule 206(4)-7 thereunder. The order also found that JPMIM caused certain registered Investment Companies to ...

US Securities and Exchange Commission · Order 31 October 2024 · USD 1.0 million · Concerns the adviser itself · Form ADV, Item 11 disclosure
202431 October 2024

Regulatory action by US Securities and Exchange Commission: cease and desist

Fund concerned: money market mutual funds. None of the insurance-dedicated funds in this file is named.

On October 31, 2024, j.p. Morgan Investment Management, Inc. ("JPMIM") entered into a settlement with the Securities and Exchange Commission ("SEC") resulting in the SEC issuing an administrative order (the "order"). Without admitting or denying the findings in the order, JPMIM consented to the entry of the order, which found that JPMIM caused violations of Section 17(d) of the Investment Company Act of 1940 ("Investment Company Act") and Rule 17d-1 thereunder. The order arose out of JPMIM causing prohibited joint transactions between three U.S. money Market mutual Funds for which JPMIM serves as a registered Investment adviser ("domestic Funds") and an affiliated Foreign money Market Fund ...

US Securities and Exchange Commission · Order 31 October 2024 · USD 5.0 million · Concerns the adviser itself · Form ADV, Item 11 disclosure
202122 July 2021

Regulatory action by Federal Financial Supervisory Authority (BaFin): civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

Negligent breach of Supervisory and organizational duties in connection with infringementsof Section 21 of the German Securities Trading Act.

Federal Financial Supervisory Authority (BaFin) · Order 9 August 2021 · USD 1.8 million · Concerns another company in the group · Form ADV, Item 11 disclosure
202029 September 2020

Regulatory action by Commodity Futures Trading Commission: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The CFTC entered an order resolving an action against JPMorgan Chase & co., an affiliated Bank (the "Bank") and an affiliated broker-dealer (the "broker-dealer") (collectively, "JPM"). According to the order, from at least 2008 through 2016, numerous traders on the precious metals and U.S. treasuries Trading desks at the Bank and the broker-dealer engaged in a manipulative and deceptive scheme by engaging in the practice of "spoofing" (bidding or offering with the intent to cancel the bid or offer before execution) while placing orders for Futures contracts on a registered entity, resulting in significant benefit to themselves and harm to other Market participants. By virtue of this ...

Commodity Futures Trading Commission · Settled 29 September 2020 · USD 436.4 million · Concerns another company in the group · Form ADV, Item 11 disclosure
201915 January 2019

Regulatory action by Securities Exchange Board of India: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The Securities and Exchange Board of India ("SEBI") alleged that jf Asset Management Limited ("JFAML") (now known as JPMorgan Asset Management (Asia Pacific) Limited) violated Regulation 19(2) of the Securities contracts (Regulation) (Stock exchanges and Clearing corporations) regulations, 2012 rescinded and replaced with Securities contracts (Regulation) (Stock exchanges and Clearing corporations) regulations, 2018.

Securities Exchange Board of India · Other 5 March 2019 · USD 7,500 · Concerns another company in the group · Form ADV, Item 11 disclosure
20185 February 2018

Regulatory action by Taiwan Financial Supervisory Commission: civil penalty

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On February 5, 2018, the Taiwan Financial Supervisory Commission ("FSC") issued a public notice of its imposition of a sanction of rectification and an administrative penalty ("sanction") against JPMorgan Asset Management (Taiwan) Limited ("JPMAM Taiwan") because JPMAM Taiwan, had not effectively established a mechanism to review training and marketing events and to approve and report expenses. The sanction imposed an administrative penalty under Article 2(2) of the regulations governing Securities Investment Trust enterprises, Article 13 of regulations governing the responsible personnel and business personnel of Securities Investment Trust enterprises, Article 6(2) of the standards ...

Taiwan Financial Supervisory Commission · Decision 5 February 2018 · USD 40,900 · Concerns another company in the group · Form ADV, Item 11 disclosure
20173 January 2017

Regulatory action by State of new Hampshire Bureau of Securities Regulation: restitution

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

The investigation concerned alleged misrepresentations and omissions in connection with the marketing, sale and distribution of auction rate Securities.

State of new Hampshire Bureau of Securities Regulation · Consent 3 January 2017 · USD 97,706 · Concerns another company in the group · Form ADV, Item 11 disclosure
201617 November 2016

Regulatory action by US Securities and Exchange Commission: cease and desist

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On November 17, 2016, JPMorgan Chase & co. ("JPMC") entered into a settlement with the Securities and Exchange Commission ("SEC") under which JPMC consented to the entry of an order (the "order") that finds that JPMC violated Sections 13(b)(2)(a), 13(b) (2)(b) and 30a of the Securities Exchange Act of 1934 ("Exchange Act"). The order finds that JPMC violated the anti-bribery provisions of the Federal Securities laws by corruptly providing valuable internships and employment to relatives and friends of Foreign government officials ("referral hires") in order to assist JPMC in retaining and obtaining business. In addition, the order finds that JPMC violated the books and records provisions ...

US Securities and Exchange Commission · Settled 17 November 2016 · No monetary sanction reported · Concerns another company in the group · Form ADV, Item 11 disclosure
201617 November 2016

Regulatory action by Federal Reserve Board: cease and desist

Fund concerned: none named in the filing. The matter concerns another company in the group, not a specific fund, and none of the insurance-dedicated funds in this file is named.

On November 17, 2016, JPMorgan Chase & co. ("JPMC") entered into a settlement with the Board of Governors of the Federal Reserve System ("FRB") resulting in the FRB issuing an order ("order"). The order finds that from at least 2008 through 2013, JPMC's asia- Pacific region Investment Banking Group operated a referral hiring program whereby candidates who were referred, directly or indirectly, by Foreign government officials and existing or prospective commercial clients, and who in most instances were less qualified than non-referred candidates who were hired through the JPMC's Standard hiring programs, were offered internships, training, and other employment opportunities in order to ...

Federal Reserve Board · Settled 17 November 2016 · USD 61.9 million · Concerns another company in the group · Form ADV, Item 11 disclosure

These are the matters J.P. Morgan Investment Management Inc. reports in Item 11 of its Form ADV, filed 26 August 2026. A reported matter is a fact disclosed by the adviser, not a finding by PPLI.com about this fund. None of them concerns the fund's investments.

The series runs on the SALI platform. SALI Fund Management's own Form ADV reports no disciplinary matters in Item 11, and the platform's record carries a 30% share of the conduct element for every series it runs.

Reader rating

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Sources

  1. Form D/A of PEG Insurance Dedicated Fund 2026, filed 11 September 2026: sec.gov EDGAR, CIK 0002126719
  2. All Form D filings of the fund: sec.gov EDGAR filing index
  3. Form ADV of SALI Fund Management, LLC (SALI Fund Services), filed 25 August 2026, Schedule D Section 7.B.(1): adviserinfo.sec.gov
  4. Form ADV of J.P. Morgan Investment Management Inc., Item 11 and disclosure pages: reports.adviserinfo.sec.gov, CRD 107038; adviser summary: adviserinfo.sec.gov/firm/summary/107038

About this file

Prepared by PPLI.com Fund Intelligence from the public filings listed, checked on 4 November 2026. The rating makes no judgment of the fund's returns. Facts and ratings are updated every quarter, or sooner when a new filing appears.

For the manager

If a fact here is wrong or out of date, write to [email protected] with the filing that shows it. We correct what we can verify and record the date of the change.

Important. Educational research only. Nothing here is an offer, a solicitation or a recommendation to invest in any fund or to buy any policy. Interests in insurance-dedicated funds are available to the public only through insurance policies. Tax results depend on a policy meeting the tax rules and on each family's circumstances; take advice in the countries concerned.

File PEG Insurance Dedicated Fund 2026Checked 4 November 2026Published 4 November 2026
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