Radical changes in the model are partly designed to hold onto staff writes Sarah Wood
When word surfaced recently that Highbridge/Zwirn Capital Management was decamping from Highbridge Capital's 57th St. headquarters to 13,000 square feet of space around the corner this month, rumors circulated that the operation was spinning out of Highbridge entirely.
But, while Highbridge won't be using the affiliate model again, it appears that the joint venture had outgrown its space. Furthermore, Highbridge co-founders Glenn Dubin and Henry Zwieca are furiously at work on launching additional new single-strategy funds, which will put further strain on the office space.
These new products represent a striking change in business model for the firm, which for years ran a single multi-strategy fund,...