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Highbridge Capital Management

Alternative investment management firm From Wikipedia, the free encyclopedia

Highbridge Capital Management
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Highbridge Capital Management, LLC is a multi-strategy alternative investment management firm founded by Glenn Dubin and Henry Swieca in 1992.[1] In 2004, it was purchased by JPMorgan Chase; as of 2019, it had about $3.9 billion in assets under management, out of $150 billion in JPMorgan's global alternatives division.[2]

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History

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The firm was founded in 1992, by childhood friends Glenn Dubin and Henry Swieca. The company started with $35 million in capital and is named after the 19th-century aqueduct that connects Washington Heights and the Bronx. In 2004, J.P. Morgan Asset Management purchased 55% ownership of the firm, and then substantially all the remaining shares in 2009.[3][4]

The company maintains offices in New York and London. The firm operates as a subsidiary of J.P. Morgan Asset Management.[5]

In October 2015, it was reported that JPMorgan Chase was nearing a deal to sell the firm's private equity business.[6]

In 2019, 52 people were laid off as it was restructured.

In 2019 the company was restructured "JPMorgan to convert Highbridge multi-strategy fund into credit fund"

Investments

In 2006 Highbridge invested as a joint venture in Louis Dreyfus Company to increase its access to and control of energy delivery within trading markets.[7] The joint venture was called Louis Dreyfus Highbridge Energy LLC (LDH Energy).[7] In October 2012 Highbridge exited the position as it was announced that Glenn Dubin, Paul Tudor Jones and Timothy Barakett were among a group of investors buying the merchant energy operation Louis Dreyfus Highbridge Energy ("LDH Energy") from Louis Dreyfus and Highbridge.[8] The reason for Louis Dreyfus to sell LDH Energy was it sought to raise capital to expand its agriculture trading business.[8] The new company was named Castleton Commodities International, LLC where Dubin as of 2012 is the lead shareholder.[9]

Following the Highbridge/J.P. Morgan partnership, Highbridge announced in October 2010 the purchase of a majority interest in Gávea Investimentos, a leading alternative-asset management company in Brazil.[10] Gávea was co-founded in 2003 by Chairman and Chief Investment Officer Arminio Fraga, former President of the Central Bank of Brazil.[10]

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Assets under management

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References

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