The Boston-based firms, created by former Harvard star managers, are generally pursuing the same strategies they employed at HMC.
• Jon Jacobson, who headed HMC's equity arbitrage team, continues to do well with Highfields' capital structure arbitrage theme. Managing $5 billion of assets, Highfields employs a combination of long/short and event-driven strategies and the firm is known for taking big positions.
• Regiment Capital, with $2.5 billion of assets, manages four pools of money: high yield, special situations, cash-flow CBO and a Harvard managed account.
• Adage Capital's equity team, running $5 billion, essentially tries to outperform the S&P 500