Highbridge Alums Raise $200 Million For Hedge Fund

Jun 26 2014 | 11:13am ET

A new hedge fund helmed by a trio of Highbridge Capital Management veterans is set to debut later this year with more than $200 million in initial assets.

Investors have been drawn to Pagoda Asset Management’s planned technology, media and telecommunications strategy—the same sectors covered by Adam Bernstein, Mark Hoffman and Glenn Vogelman for a half-dozen years at Highbridge. The former’s portfolio at the JPMorgan Chase-owned hedge fund was the biggest contributor to its profits among long/short equity strategies, Hedge Fund Alert reports.

“The coolest thing about these guys is it’s a lift-out more than a startup,” a source told HFA. “The three of them worked together.” Hoffman was global head of equity trading at Highbridge and Bernstein a portfolio manager. The former will serve as chief operating officer of the new firm, and the latter as chief investment officer. Vogelman will act as sector head.

Pagoda’s maiden fund—which will invest in consumer stocks as well as TMT—is expected in the fourth quarter.


In Depth

Direct Lending: What’s Different Now?

Mar 14 2017 | 8:43pm ET

Senior direct lending funds have become riskier over the past four years, with leverage...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of