J.P. Morgan to Complete Acquisition of Highbridge

June 11, 2009

J.P. Morgan Asset Management has announced it will complete its acquisition of Highbridge Capital Management, effective July 1, 2009.

J.P. Morgan Asset Management (“JP Morgan”) has announced it will complete its acquisition of Highbridge Capital Management (“Highbridge”), effective July 1, 2009.  As a result of this transaction, JP Morgan will increase its 77.5% ownership interest in the hedge fund manager.  The terms of the transaction were not disclosed.  JP Morgan first acquired an interest in Highbridge in 2004, paying $1.3 billion for a 55% stake.  Highbridge co-founders’ Glenn Dubin and Henry Swieca will both retain small stakes in the firm.  Dubin has agreed to continue in his role as the fund’s chief executive.  Swieca plans to pursue other opportunities after assisting in a transition period through late 2009.  Swieca’s departure will mark the end of his 17 years at Highbridge and a 25-year partnership with childhood friend Dubin.  Highbridge, with approximately $21 billion of assets under management, is a global alternative investment management firm with a diversified investment platform that includes hedge funds, traditional investment management products and private equity.  JP Morgan, with assets under supervision of $1.5 trillion, offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity.  To view the Press Release, go to [Press Release] http://www.jpmorganassetmanagement.lu/portal/site/JPMAM/menuitem.c85128945f36c12b404952aab4c8f59a/?vgnextoid=874c59cf8ade1210VgnVCM100000860d5da9RCRD&vgnextchannel=576388c5c95d4110VgnVCM1000004b8c5fa9RCRD&vgnextfmt=default&cmsTitle=J+.P.+Morgan+Asset+Management+to+complete+purchase+of+Highbridge+-+LUX

For more information, go to http://www.reuters.com/article/innovationNews/idUSTRE55A3PX20090611


Categories

Hedge Fund M&A, Investment Manager M&A, Private Equity M&A, Transactions