Highbridge Capital Management is
JPMorgan Chase & Co.'s big push into the alternative asset management business (read:
hedge funds).
Once one of the largest hedge funds in the world, Highbridge is looking at the
possibility of getting smaller, and fast. Like many hedge funds, Highbridge has seen a deluge of investor
withdrawal requests. Hesitant to sell assets that may be undervalued in a challenged economy, Highbridge is
paying its investors back with its liquid assets for the time being. Henry Swieca, a founder of Highbridge,
plans to leave as J.P. Morgan moves to buy the 25% of the business that it doesn't already own.
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