J .P. Morgan Asset Management to complete purchase of Highbridge |
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Highbridge Capital Management announced that J.P. Morgan Asset Management will complete its purchase of Highbridge, effective July 1, 2009. J.P. Morgan Asset Management entered into a strategic partnership with Highbridge in December 2004 and has increased its ownership stake over the last five years, creating one of the largest and most significant strategic alliances in the hedge fund industry.
Since December 2004, Highbridge has tripled its assets under management to approximately $21 billion and evolved into a global, diversified investment management platform offering investment products across its hedge fund, traditional investment management and private investment businesses. In the wake of last year's global market crisis and industry consolidation, Highbridge is exceptionally well positioned, given its depth of investment talent and institutional quality operating platform.
"When Glenn and I founded Highbridge 17 years ago, we wanted to build an alternative investment management business that would endure long after us," Mr. Swieca said. "I am proud to say that we've succeeded beyond our dreams."
Press release. June 2009
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