Monday, 1 September 2014
Last updated 3 days ago
Sep 15 2010 | 2:52am ET
JPMorgan Chase CEO Jamie Dimon has announced the firm’s plans to comply with the newly-enacted Volcker rule, and they do not include divesting the firm’s enormous Highbridge Capital Management hedge fund or its main private equity business.
Dimon said the new U.S. banking regulations will not force it to sell Highbridge, so the unit “will stay in the current form it is.” Highbridge manages “client-only” hedge funds, so “the seed restriction on capital is fine with us,” Dimon said during an investor presentation yesterday, MarketWatch reports.
Nor does the firm plan to sell its One Equity Partners private equity unit, which has $8 billion in assets under management. The firm will shutter some of its other private equity business to comply with the new law.
JPMorgan will also move its “best” proprietary traders to its asset management unit, as the Volcker rule does bar banks from trading their own capital. But Dimon said that the closure of the prop. desks would not have a material impact on the firm.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...