The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Pick of the bunch makes sense

Nothing indicates better how a business has matured than when established forces start buying and upstarts are willing to sell.

That's where the hedge fund business now stands. JPMorgan Chase has bought a majority stake in Highbridge and Lehman Brothers is considering adding to its 20% stake in GLG Partners. European banks have also been making this move.

By being one of the first to act JPMorgan, no stranger to losing staff to hedge funds, has had the pick of the bunch, and settled on a highly regarded firm. Highbridge has $6.6 billion in assets, runs seven strategies, relies at least as much on technology as on its staff, and has a very good track record.

On one level it's the latest response from brokers and asset managers who for years have been struggling to stem the drain of talented prop traders, portfolio managers and researchers leaving for hedge funds, which usually pay more. Until now the only serious option has been to give departing employees seed capital and to profit from their success.

It is also another step in the process of hedge funds being accepted as investment institutions. As more institutional pension, money management and insurance funds put assets into hedge funds, they demand more transparency and more risk management.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree