Highbridge Capital Management

Founded in 1992 by childhood friends Glenn Dubin and Henry Swieca, Highbridge Capital Management began with $35 million in capital. The firm is named after the 19th-century aqueduct connecting Washington Heights and the Bronx. In 2004, J.P. Morgan Asset Management acquired a 55% stake in the firm, eventually purchasing substantially all remaining shares by 2009.

The firm historically operated as a multi-strategy hedge fund but underwent a significant restructuring in 2019. During this transition, its $2 billion multi-strategy fund was converted into a credit-focused fund, resulting in a reduction in headcount and a narrower investment scope. Highbridge currently operates as a subsidiary within J.P. Morgan's global alternatives division.

Highbridge has engaged in significant joint ventures and acquisitions, including a notable energy trading partnership with Louis Dreyfus Company and the acquisition of a majority interest in the Brazilian alternative-asset manager Gávea Investimentos. While the firm previously maintained a private equity business, reports in 2015 indicated that JPMorgan was moving toward selling a majority of that specific unit.