Highfields Capital Management

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Highfields Capital Management LP
Limited Partnership
IndustryHedge funds[1]
FoundedJune 15, 1998; 20 years ago (1998-06-15)[2][1]
AUMUS$10,000,000,000 (2010)[3]

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.


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".[4]

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.[3]

Highfields has invested in publicly traded equities;[5] private companies like Harry & David,[6][7] Michaels (6.2%[8]) and Genworth Financial;[9] and other investments including reinsurance sidecars.[10] In February 2012, Highfields called for management change at CoreLogic,[11] in which it had a 7.65% stake.[12]

In October of 2018, Highfields announced in a letter that they were returning billions to their clients and converting into a family office.[13]

Senior management[edit]

Richard Grubman and Jonathon Jacobson were the founders and principals of Highfields.[3]

Grubman retired in August 2010.[14][15][12]

Jacobson is an undergraduate alumnus of Wharton School in finance and has an MBA from Harvard Business School.[12] 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.[12] Bloomberg reported in 2011 that HMC no longer invested with Highfields.[16]


  1. ^ a b c "Company Overview of Highfields Capital Management, LP", businessweek.com. Retrieved March 27, 2012.
  2. ^ "HighfieldsCapital.com WHOIS, DNS, & Domain Info - DomainTools". WHOIS. Retrieved 2016-08-14.
  3. ^ a b c McIntosh, Bill, ed., "The US50", The Hedge Fund Journal in association with Newedge Prime Brokerage Group. Retrieved 2012-03-27.
  4. ^ Highfields Capital, the one non-customer company webpage. Retrieved 2012-03-27.
  5. ^ Williams, Kimberly, "Highfields Capital Mgmt LP Holdings in 2nd Quarter [(2011): 13F Alert", Bloomberg, August 15, 2011. Retrieved 2012-03-27.
  6. ^ "Harry & David Files for Bankruptcy", New York Times, March 27, 2011.
  7. ^ Effinger, Anthony, "Wasserstein Haunts Harry & David in Buyout Doomed to Bankruptcy", Bloomberg Markets Magazine, October 12, 2011. Retrieved 2012-11-07.
  8. ^ Oran, Olivia, and Greg Roumeliotis, "Blackstone, Bain prepare Michaels Stores IPO", Reuters, March 27, 2012. Retrieved 2012-03-27.
  9. ^ "Highfields increases stake in Genworth Financial", AP Digital via Bloomberg, 06/28/2012. Via Sammy Pollack, "Genworth Leads S&P 500, What You Need To Know", Seeking Alpha, June 29, 2012. Retrieved 2012-07-03.
  10. ^ "Moody's rates Cyrus Reinsurance II Ltd's proposed bank loans". Moody's Investors Service. November 27, 2007.
  11. ^ "Highfields Calls for Ouster of CoreLogic's Management", New York Times, February 28, 2012. Retrieved 2012-11-07.
  12. ^ a b c d "Highfields Capital Management", Hedge Fund Letters, n.d. Retrieved 2012-11-07.
  13. ^ Juliet Chung (October 3, 2018). "Hedge Fund Highfields Capital To Return Money to Clients". The Wall Street Journal.
  14. ^ http://www.businessinsider.com/richard-grubman-retiring-2010-8
  15. ^ http://www.businessinsider.com/richard-grubman-ritz-carlton2010-4
  16. ^ Wee, Gillian, "Harvard's Crimson Cubs With $43 Billion Dwarf Their Former Endowment Home", Bloomberg, March 2, 2011. Retrieved 2012-11-07.

External links[edit]