Industry Hedge funds Founded 15 June 1998 Type of business Limited Partnership | Founder Lizzie Grubman Headquarters Boston | |
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AUM US$10,000,000,000 (2010) Website www.highfieldscapital.com | ||
Highfields Capital Management LP is a hedge fund founded in 1998 which had assets in excess of $10 billion in 2011, per a report in Absolute Return + Alpha.
Contents
Business
In 2012, the company described itself as a "value-oriented investment management firm which manages private investment funds for endowments, charitable and philanthropic foundations, pension funds and other institutional and private investors ... [with] over $11 Billion in net capital invested worldwide".
In 2010, Highfields was listed as having $10 billion of assets on January 1, 2010 (30th in The Hedge Fund Journal Top 50), up from $9.3 billion on July 1, 2009 and up from a 38th-place ranking in 2008.
Highfields has invested in publicly traded equities; private companies like Harry & David, Michaels (6.2%) and Genworth Financial; and other investments including reinsurance sidecars. In February 2012, Highfields called for management change at CoreLogic, in which it had a 7.65% stake.
Senior management
Richard Grubman and Jonathon Jacobson were the founders and principals of Highfields.
Grubman retired in August 2010.
Jacobson is an undergraduate alumnus of Wharton School in finance and has an MBA from Harvard Business School. After working as an options trader and at Merrill Lynch and Lehman Brothers, he joined Harvard Management Company in 1990. In 1998 Jacobson HMC left to co-found Highfields with a third of the fund's initial $1.5 billion under management coming from HMC. Bloomberg reported in 2011 that HMC no longer invested with Highfields.