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Highbridge Cap Raises $3B For New Fund

Jun 19, 2013
Jing Chen

JPMorgan’s hedge fund firm, Highbridge Capital Management, has raised $3 billion for a direct lending fund.

Financial Times reported that the new fund, which will capitalize on the decline in traditional bank lending, will target middle-sized companies.

The article also said according to the International Monetary Fund, European banks are  expected to decrease their balance sheets by about 7% of their assets by next year.

Mike Patterson, who will manage the new fund, told Financial Times that the new offering will invest 80% in the U.S., and the rest in Europe.

Highbridge Capital manages about $26 billion in capital.

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