Highbridge is making its way into the world of private equity.

Highbridge Capital Management, which is a hedge fund company owned by JP Morgan Chase, is starting up its own private equity business. The man who will run the operation is Scott Kapnick, formerly the co-head of Goldman’s investment banking division.

Kapnick and his team will attempt to raise between $1 billion and $2 billion in capital, which will then be used to invest in private companies and corporate debt.

Highbridge Capital Management, a hedge fund company owned by JP Morgan Chase, has hired former Goldman Sachs executive Scott Kapnick to head up its new private equity operation.

Kapnick, who is the former co-head of Goldman’s investment banking division, will lead a team to raise and invest two $1 billion to $2 billion funds that will make long term investments in private equity and corporate debt. He will also reportedly set up and run a newly-created principal strategies division.

(Continue reading this story on HedgeFund.net)

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