Hedge Fund Founder Quits After JP Morgan Acquisition

Founder of Highbridge Capital Management, Henry Swieca, revealed plans to leave the firm after JP Morgan moved to purchase the remainder of the giant hedge fund. Highbridge Capital Management is one of the world's largest hedge funds with around $20 billion in AUM (assets under management). In 2008, Henry Swieca ranked in the top 100 on Forbes list of billionaires, with an estimated net worth of $1.3 billion.


Highbridge Capital Management, LLC is a global alternative investment and asset management firm based in New York with offices in London, Hong Kong and Tokyo, with over 310 employees and 100 investment professionals. Highbridge manages approximately $20 billion of capital for financial institutions, corporate pension funds, university endowments and family offices.

Asian Hedge Fund, Highbridge Capital Management, Limits Redemptions

Highbridge Capital Management, a hedge fund owned by JPMorgan, may limit withdrawals from its Asian Opportunities Fund. The fund is down 32% on the year and Highbridge Capital Management intends to give investors half of their money returned by the end of January. The rest of investors' money will be returned in 12 to 18 months, reports Bloomberg. This comes after earlier news that Highbridge might limit withrdrawals from its Asia Opportunities Fund completely.

Though Highbridge's Asia-focused fund has performed poorly this year, it has returned more than 20% since inception, and double digit gains in 2006 and 2007.

JP Morgan purchased an interest in Highbridge Capital Management in 2004 and increased its interest to 78% in January.


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