Highbridge Asia In Credit Turn As Stock Chief Out

Dec 7 2011 | 1:53am ET

Shyan Wen Lim, co-head of Highbridge Capital Management's Asia effort, has left the firm as it shifts its focus from stocks—Lim's specialty—to bonds.

Lim's departure on Monday leaves Arjun Menon in sole control of Highbridge's Asian business. Menon's focus is on high-yield credit, convertible bonds and volatility investments, Bloomberg News reports.

Menon and Lim have jointly led the hedge fund giant's Asia business since the departure in March of Carl Huttenlocher. At the time of Huttenlocher's exit, some 70% of Highbridge's Asian investments were in stocks; now, following the liquidation of Huttenlocher's $1.5 billion fund, Menon's strategy accounts for 70% of the firm's Asian investments.

Highbridge is set to hire three more credit specialists, including a fund manager who will serve as Menon's number two, a role Menon played for Huttenlocher and another sign of Highbridge's increasing focus on credit. The firm's high-ranking stock trader in Asia is now Richard Chu, who handles Asian industrials.

Both Menon and Chu have managed positive returns in their portfolios this year; Menon's is up about 9%.

Lim's exit was due to Highbridge's shift to credit in the region, according to Bloomberg. Nor was he alone: A few other Highbridge employees left the firm as it imposed changes on the way stock investments are made.

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