Thursday, 26 November 2015
Last updated 19 hours ago
Feb 7 2011 | 1:03pm ET
Highbridge Capital Management is trading its event-driven business for a more robust credit business.
The JPMorgan Chase hedge fund unit has hired a Sandell Asset Management veterans and is planning a new credit hedge fund, the Financial Times reports. The news comes about a week after Highbridge pulled the plug on its event-driven group, laying off the entire team.
With Sandell's Serge Adam on board, Highbridge is preparing to launch a standalone version of its credit opportunities strategy, currently available only as part of the firm's flagship hedge fund. Highbridge hopes to raise up to $2 billion for the new fund over the next few months; the strategy currently manages $750 million.
Adam will be responsible for Highbridge's public credit platform, and is expected to be more active in credit trading than Highbridge's current funds.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…