Highbridge Raises $5B For Mezzanine Fund

Mar 18 2013 | 9:28am ET

Highbridge Capital Management has closed its latest mezzanine fund at over $5 billion.

Like its 2008 predecessor fund, the Mezzanine Partners Fund II, will invest primarily in subordinated debt securities across a broad set of industries with a focus on North America and Western Europe.

The fund, one of the world's largest dedicated mezzanine funds (and the largest closed since the financial crisis), has invested or committed over $1 billion in nine companies since its first close in early 2012.

“We are appreciative and fortunate to have enthusiastic support from our existing and new investors,” said Scot French, Highbridge Principal Strategies partner and head of HPS Mezzanine, in a statement. “The strength of both our track record and global relationships positions us favorably to continue providing creative capital solutions to our corporate and private equity partners while delivering attractive returns to our investors.”

HPS is a subsidiary of Highbridge Capital Management and JPMorgan Asset Management which invests across the capital structure in the public and private capital markets, including privately negotiated mezzanine debt investments, specialty direct lending, public credit securities, growth equity and leveraged loans.

Highbridge has approximately $30 billion in assets under management.

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