Friday, 4 September 2015
Last updated 2 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…