JPMorgan’s Highbridge collects $175m for loans

The group, which JPMorgan acquired last year, formed a private equity effort in 2007 to invest in mezzanine, public debt, growth equity and senior loans.

JPMorgan’s Highbridge Capital Management, a hedge fund, has collected $175 million for its second private equity senior loan vehicle.

Highbridge, which the US bank acquired in 2009, has raised $151 million as of July for the fund, plus another $24 million in a parallel fund. The ultimate target for the fund is unclear.

The Los Angeles City Employees’ Retirement System investment committee this month discussed the fund, called the Highbridge Principal Strategies – Senior Loan Fund II.

Highbridge, acquired by JPMorgan last year, launched its “principal strategies” effort in 2007 as the firm’s private equity and credit investment platform. The principal strategies group manages $4 billion across several funds, including mezzanine, public debt, growth equity and loans.

The firm hired Scott Kapnick from Goldman Sachs to launch the private equity effort.

It’s not clear how much Highbridge raised for the first “principal strategies” fund. The firm did not return a call for comment.