Friday, 22 May 2015
Last updated 1 hour ago
Sep 30 2006 | 9:05am ET
While other banks have struggled to expand their footholds in alternative investments, JPMorgan Chase has zoomed to near the top of the pile. Riding an 80% jump in assets under management from a year ago, JPMorgan is now the second-largest hedge fund manager in the U.S., behind only Goldman Sachs, according to Absolute Return magazine.
Last year, it ranked 12th; this year, it is one of only three banks (Barclays finished 10th) in the top ten.
Part of JPMorgan’s success is attributed to Highbridge Capital Management, which the bank acquired in 2004 and has seen its assets rise from $7 billion to $12 billion in that time. But the bulk of the growth has been in JPMorgan’s 38 hedge funds, which doubled in size over the last year to $12.6 billion.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…