Highbridge Capital Management may soon have a new majority owner, Reuters reports, and that owner could be JP Morgan Fleming.

The hedge fund firm is an attractive option for JP Morgan Fleming, as the company tries to meddle its way into that market. The JP Morgan unit, which is the fourth-largest U.S. fund company, would continue to allow Highbridge founders Glenn Dubin and Henry Swieca to operate the firm, Reuters said.

Highbridge, a New York-based firm, is a $7 billion hedge fund that has 160 employees scattered among New York, London and Hong Kong offices. While terms were not disclosed, sources said that the transaction could be completed and approved within two weeks.

JP Morgan already possesses $3 billion in hedge fund ventures, as well as a fund-of-funds that invests in hedge funds. A chief reason for the purchase of Highbridge, sources said, could be that JP Morgan wants to lure different types of investors into hedge funds.


The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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