Highfields Capital Management

Highfields Capital Management LP
Limited Partnership
Industry Hedge funds[1]
Founded 1998[1]
Headquarters Boston, Massachusetts[1], U.S.
AUM US$10,000,000,000 (2010)[2]
Website www.highfieldscapital.com

Highfields Capital Management LP is a hedge fund founded in 1998 which had assets in excess of $10 billion in 2011, per a report in Absolute Return + Alpha.

Business

In 2012, the company described itself as a "value-oriented investment management firm which manages private investment funds for endowments, charitable and philanthropic foundations, pension funds and other institutional and private investors ... [with] over $11 Billion in net capital invested worldwide".[3]

In 2010, Highfields was listed as having $10 billion of assets on January 1, 2010 (30th in The Hedge Fund Journal Top 50), up from $9.3 billion at July 1, 2009 and up from a 38th-place ranking in 2008.[2]

Highfields has invested in publicly traded equities;[4] private companies like Harry & David,[5][6] Michaels (6.2%[7]) and Genworth Financial;[8] and other investments including reinsurance sidecars. In February 2012, Highfields called for management change at CoreLogic,[9] in which it had a 7.65% stake.[10]

Senior management

Richard Grubman and Jonathon Jacobson were the founders and principals of Highfields.[2]

Grubman retired in August 2010.[10]

Jacobson is an undergraduate alumnus of Wharton School in finance and has an MBA from Harvard Business School.[10] After working as an options trader and at Merrill Lynch and Lehman Brothers, he started a successful stint at Harvard Management Company in 1990. In 1998 Jacobson HMC left to co-found Highfields with a third of the fund's initial $1.5 billion under management coming from HMC.[10] Bloomberg reported in 2011 that HMC no longer invested with Highfields.[11]

References

  1. ↑ 1.0 1.1 1.2 "Company Overview of Highfields Capital Management, LP", businessweek.com. Retrieved March 27, 2012.
  2. ↑ 2.0 2.1 2.2 McIntosh, Bill, ed., "The US50", The Hedge Fund Journal in association with Newedge Prime Brokerage Group. Retrieved 2012-03-27.
  3. ↑ Highfields Capital, the one non-customer company webpage. Retrieved 2012-03-27.
  4. ↑ Williams, Kimberly, "Highfields Capital Mgmt LP Holdings in 2nd Quarter [(2011): 13F Alert", Bloomberg, August 15, 2011. Retrieved 2012-03-27.
  5. ↑ "Harry & David Files for Bankruptcy", New York Times, March 27, 2011.
  6. ↑ Effinger, Anthony, "Wasserstein Haunts Harry & David in Buyout Doomed to Bankruptcy", Bloomberg Markets Magazine, October 12, 2011. Retrieved 2012-11-07.
  7. ↑ Oran, Olivia, and Greg Roumeliotis, "Blackstone, Bain prepare Michaels Stores IPO", Reuters, March 27, 2012. Retrieved 2012-03-27.
  8. ↑ "Highfields increases stake in Genworth Financial", AP Digital via Bloomberg, 06/28/2012. Via Sammy Pollack, "Genworth Leads S&P 500, What You Need To Know", Seeking Alpha, June 29, 2012. Retrieved 2012-07-03.
  9. ↑ "Highfields Calls for Ouster of CoreLogic's Management", New York Times, February 28, 2012. Retrieved 2012-11-07.
  10. ↑ 10.0 10.1 10.2 10.3 "Highfields Capital Management", Hedge Fund Letters, n.d. Retrieved 2012-11-07.
  11. ↑ Wee, Gillian, "Harvard's Crimson Cubs With $43 Billion Dwarf Their Former Endowment Home", Bloomberg, March 2, 2011. Retrieved 2012-11-07.

External links