Highbridge Capital Management

Founded in 1992 by childhood friends Glenn Dubin and Henry Swieca, Highbridge Capital Management began its operations 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% majority stake in the firm, later purchasing substantially all remaining shares in 2009. Historically, the firm operated as a prominent multi-strategy hedge fund before undergoing significant restructuring.

The firm focuses on alternative investments and maintains offices in New York and London. In 2019, Highbridge transitioned its $2 billion multi-strategy fund into a more specialized credit-focused fund. This transition involved internal restructuring, including layoffs and changes to the lead portfolio management team. As a subsidiary of JPMorgan Chase, it operates within the bank's global alternatives division, which manages over $150 billion.

Throughout its history, Highbridge has engaged in significant joint ventures and international acquisitions. Notable among these was the 2006 creation of Louis Dreyfus Highbridge Energy (LDH Energy) and the 2010 purchase of a majority interest in Gávea Investimentos, a leading alternative-asset manager in Brazil. The firm eventually exited its position in LDH Energy in 2012 when the merchant energy operation was sold to a group of private investors.