Hedge Funds

Highbridge recruits Fidelity fund manager Eigen

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The $8 billion New York-based Highbridge Capital Management group has hired William Eigen, a former Fidelity Investments mutual fund manager, to head a new unit that will oversee the development of new fixed-income-oriented hedge funds. Additional hires are expected in the near future as Eigen, as a managing director and portfolio manager, begins to assemble his team. At Fidelity, Eigen oversaw $10 billion in mutual fund portfolios, including the Fidelity Strategic Income Fund.

All of the new products will have an absolute return bent. No long-only fixed-income funds are planned. The new funds are expected to be targeted