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Alternative Market Briefing

JPMorgan unit Highbridge Capital Management closes convertible dislocation fund at $2bn

Thursday, December 03, 2020

Laxman Pai, Opalesque Asia:

J.P. Morgan Asset Management subsidiary Highbridge Capital Management (HCM) has held the final closing of its Highbridge Convertible Dislocation Fund, with total investable capital of more than $2bn, including approximately $685 million in equity commitments.

The purpose of the fund, formed in response to convertible market dislocations that started in March due to the pandemic, is to invest in relative value and event-driven convertible instruments with a focus on North America and Western Europe.

"This mandate is consistent with Highbridge's longstanding commitment to relative value alternative investment strategies. The Fund, which began investing in June 2020, is approximately 50% invested," said a press release from the global alternative investment firm offering credit and volatility focused solutions across a range of liquidity and investment profiles, including hedge funds, drawdown vehicles, and co-investments.

HCM's focus on credit and volatility investment strategies provides a platform for consistent idea generation and investment opportunities. "When appropriate, Highbridge may mobilize capital, utilizing opportunistic investment vehicles to capture market dislocation events," said the release.

The New York-headquartered firm benefits from the larger J.P. Morgan Global Alternatives umbrella, a $145 billion platform spanning real estate, infrastructure, transportation, hedge funds, private equity, private credit,......................

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