Hedge Funds

Highbridge raises stake in Six Flags


Highbridge Capital Management has upped its stake in amusement park operator Six Flags, buying an additional 400,000 shares in recent weeks.

New York-based Highbridge holds 2.5 million shares of common stock and convertible bond holdings, worth a combined $40 million, according to January 11 filings made with the U.S. Securities and Exchange Commission. Highbridge's convertibles in Six Flags mature in 2015 and bear a coupon rate of 4.5%.

Highbridge, a $7.4 billion hedge fund firm owned by JPMorgan Chase, is one of the largest shareholders in Six Flags. At the beginning of last year's fourth quarter, only one