Charlie Gasparino has learned that JPMorgan is preparing in case they have to sell Highbridge, a hedge fund owned by the firm:From FOX:
JPMorgan has drawn up contingency plans to sell its massive hedge fund, Highbridge Capital.
Highbridge and JPMorgan’s asset management business, JPMAM, make up the biggest hedge fund in the world.
Highbridge alone manages some $21 billion in assets. The bank manages around $53.5 billion that is allocated in hedge fund assets.
If the Volcker Rule passes as it currently stands, JPM might have to spin off their hedge fund business. Looks like they’ve already prepared the documents in case they have to sell.
Gasparino says JPM has contingency plans to sell their $15 billion PE arm as well.
We heard a while ago that JPM wasn’t too concerned about the Volcker Rule, so take this with a grain of salt.
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