Glenn Dubin
Encyclopedia
Glenn Dubin is the Co-Founder, Chairman and CEO of Highbridge Capital Management, an alternative asset
management company based in New York City
, and a founding board member of the Robin Hood Foundation
.
section of upper Manhattan, which at the time was a neighborhood populated by Europeans fleeing Nazi Germany. He is the oldest son of Harvey and Edith Dubin, a taxi driver who later worked in dress manufacturing, and a hospital administrator, respectively. Dubin attended public school at Washington Heights' P.S. 132 and went on to Stony Brook University, where he graduated in 1978 with a degree in economics. He was also a member of the school’s football and lacrosse teams.
Dubin has been married to Dr. Eva Andersson-Dubin, M.D. since 1994, and the couple has three children. Dr. Andersson-Dubin was born in Sweden where she was educated and began her medical training at the Karolinska Institute School of Medicine in Stockholm. She received her M.D. from UCLA in 1989 and is now an in-house physician at NBC
Network. Dr. Andersson-Dubin is also a former Miss Sweden (1980). The Dubins live in Manhattan and own property in Westchester County, Colorado, and Sweden.
in 1978. He was joined in 1984 by childhood friend Henry Swieca, and the pair started Dubin & Swieca, an early "fund of funds" business that constructed multi-manager hedge fund portfolios guided by the principles of modern portfolio theory
. In 1992 they started Highbridge Capital Management with $35 million in capital, naming the firm after the 19th Century aqueduct that connects Washington Heights with the Bronx.
Today, Highbridge is an institutional alternative asset management company that has evolved from a multi-strategy hedge fund into a diversified investment business that includes hedge funds, traditional investment management products, and longer-term credit and equity investments. Highbridge, together with its affiliates, manages approximately $27 billion in capital for institutional investors, pension funds, endowments, foundations and family offices. The firm is based in New York with offices in London, Hong Kong and Tokyo and employs more than 360 people, including over 100 investment professionals.
In late 2004, J.P. Morgan Asset Management—a division of JPMorgan Chase--purchased a majority interest in Highbridge. In July 2009, J.P. Morgan Asset Management completed its purchase of substantially all remaining shares of the firm—a transaction that was reputedly worth more than $1.3 billion. A handful of hedge fund founders have successfully transitioned ownership of their business to employees, while others have opted to sell the management company or part of it to a larger financial institution. This strategy has produced mixed results. JP Morgan’s acquisition of Highbridge Capital Management, with co-founder Glenn Dubin remaining at the helm as CEO, is generally seen an example of a model succession.
Following the Highbridge/J.P. Morgan partnership, Highbridge announced in October 2010 the purchase of a majority interest in Gávea Investimentos, a leading alternative asset management company in Brazil. Gávea was co-founded in 2003 by Chairman and Chief Investment Officer Arminio Fraga
, former President of the Central Bank of Brazil.
to join him and Peter Borish in a venture philanthropy project Jones had conceived and started. The resulting Robin Hood Foundation
has raised and granted more than $1 billion to fight poverty in New York City. The foundation finds, funds, and creates programs and schools that generate measurable results for families in New York's poorest neighborhoods. A rigorous system of metrics and third-party evaluation of these groups guarantees accountability. The board pays all administrative, fundraising, and evaluation costs, allowing 100% of donations to go directly to organizations helping New Yorkers in need. Dubin has served on the board since since its founding, is a former Board Chair, and sits on the Jobs and Economic Security subcommittee.
In 2010, Dubin gave $5 million to Harvard University
to establish the Dubin Graduate Fellowships for Emerging Leaders at the John F. Kennedy School of Government
’s Center for Public Leadership
. The gift provides tuition for up to ten students each year, characterized as “strategic investments in outstanding individuals with demonstrated promise.” Dubin is a member of the Dean's Executive Committee at the Kennedy School.
Glenn Dubin is also a trustee of the Mt. Sinai Medical Center
. He and his wife funded the Dubin Breast Center at Mt. Sinai in 2010 to provide comprehensive integrated breast care in a patient-centered environment. The multidisciplinary Center is headed by co-directors Dr. George Raptis and Dr. Elisa Port.
In addition, the Dubins have funded the Dubin Family Athletic Performance Center at State University of New York at Stony Brook.
Alternative asset
An alternative asset is a newer type of asset that has not been traditionally considered part of an investment portfolio. Historically, examples include real estate, commodities, as well as rare coins and stamps, artwork or trading cards...
management company based in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, and a founding board member of the Robin Hood Foundation
Robin Hood Foundation
The Robin Hood Foundation is a charitable organization, which attempts to alleviate problems caused by poverty in New York, United States.-History:Founded in 1988, Robin Hood was the brainchild of hedge fund manager Paul Tudor Jones...
.
Personal life
Glenn Dubin was born in 1957 in the Washington HeightsWashington Heights, Manhattan
Washington Heights is a New York City neighborhood in the northern reaches of the borough of Manhattan. It is named for Fort Washington, a fortification constructed at the highest point on Manhattan island by Continental Army troops during the American Revolutionary War, to defend the area from the...
section of upper Manhattan, which at the time was a neighborhood populated by Europeans fleeing Nazi Germany. He is the oldest son of Harvey and Edith Dubin, a taxi driver who later worked in dress manufacturing, and a hospital administrator, respectively. Dubin attended public school at Washington Heights' P.S. 132 and went on to Stony Brook University, where he graduated in 1978 with a degree in economics. He was also a member of the school’s football and lacrosse teams.
Dubin has been married to Dr. Eva Andersson-Dubin, M.D. since 1994, and the couple has three children. Dr. Andersson-Dubin was born in Sweden where she was educated and began her medical training at the Karolinska Institute School of Medicine in Stockholm. She received her M.D. from UCLA in 1989 and is now an in-house physician at NBC
NBC
The National Broadcasting Company is an American commercial broadcasting television network and former radio network headquartered in the GE Building in New York City's Rockefeller Center with additional major offices near Los Angeles and in Chicago...
Network. Dr. Andersson-Dubin is also a former Miss Sweden (1980). The Dubins live in Manhattan and own property in Westchester County, Colorado, and Sweden.
Professional Life
Dubin began his career in finance as a retail stock broker at E. F. Hutton & Co.E. F. Hutton & Co.
E. F. Hutton & Co. was an American stock brokerage firm founded in 1904 by Edward Francis Hutton, his brother Franklyn Laws Hutton, and later led by well known Wall Street trader Gerald M. Loeb. Under their leadership, Hutton became one of the most respected financial firms in the United States...
in 1978. He was joined in 1984 by childhood friend Henry Swieca, and the pair started Dubin & Swieca, an early "fund of funds" business that constructed multi-manager hedge fund portfolios guided by the principles of modern portfolio theory
Modern portfolio theory
Modern portfolio theory is a theory of investment which attempts to maximize portfolio expected return for a given amount of portfolio risk, or equivalently minimize risk for a given level of expected return, by carefully choosing the proportions of various assets...
. In 1992 they started Highbridge Capital Management with $35 million in capital, naming the firm after the 19th Century aqueduct that connects Washington Heights with the Bronx.
Today, Highbridge is an institutional alternative asset management company that has evolved from a multi-strategy hedge fund into a diversified investment business that includes hedge funds, traditional investment management products, and longer-term credit and equity investments. Highbridge, together with its affiliates, manages approximately $27 billion in capital for institutional investors, pension funds, endowments, foundations and family offices. The firm is based in New York with offices in London, Hong Kong and Tokyo and employs more than 360 people, including over 100 investment professionals.
In late 2004, J.P. Morgan Asset Management—a division of JPMorgan Chase--purchased a majority interest in Highbridge. In July 2009, J.P. Morgan Asset Management completed its purchase of substantially all remaining shares of the firm—a transaction that was reputedly worth more than $1.3 billion. A handful of hedge fund founders have successfully transitioned ownership of their business to employees, while others have opted to sell the management company or part of it to a larger financial institution. This strategy has produced mixed results. JP Morgan’s acquisition of Highbridge Capital Management, with co-founder Glenn Dubin remaining at the helm as CEO, is generally seen an example of a model succession.
Following the Highbridge/J.P. Morgan partnership, Highbridge announced in October 2010 the purchase of a majority interest in Gávea Investimentos, a leading alternative asset management company in Brazil. Gávea was co-founded in 2003 by Chairman and Chief Investment Officer Arminio Fraga
Arminio Fraga
Arminio Fraga is a Brazilian economist who was president of the Central Bank of Brazil from 1999 to 2002. He is also a former associate of George Soros and his Quantum Fund...
, former President of the Central Bank of Brazil.
Philanthropy
In 1987, Dubin was asked by fellow hedge fund manager and close friend Paul Tudor JonesPaul Tudor Jones
Paul Tudor Jones II , is the founder of Tudor Investment Corporation, which is the management company for his various private investment partnerships, also referred to as hedge funds. As of March 2011, he was estimated to have a net worth of USD 3.3 billion by Forbes Magazine and ranked as 336th...
to join him and Peter Borish in a venture philanthropy project Jones had conceived and started. The resulting Robin Hood Foundation
Robin Hood Foundation
The Robin Hood Foundation is a charitable organization, which attempts to alleviate problems caused by poverty in New York, United States.-History:Founded in 1988, Robin Hood was the brainchild of hedge fund manager Paul Tudor Jones...
has raised and granted more than $1 billion to fight poverty in New York City. The foundation finds, funds, and creates programs and schools that generate measurable results for families in New York's poorest neighborhoods. A rigorous system of metrics and third-party evaluation of these groups guarantees accountability. The board pays all administrative, fundraising, and evaluation costs, allowing 100% of donations to go directly to organizations helping New Yorkers in need. Dubin has served on the board since since its founding, is a former Board Chair, and sits on the Jobs and Economic Security subcommittee.
In 2010, Dubin gave $5 million to Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
to establish the Dubin Graduate Fellowships for Emerging Leaders at the John F. Kennedy School of Government
John F. Kennedy School of Government
The John F. Kennedy School of Government at Harvard University is a public policy and public administration school, and one of Harvard's graduate and professional schools...
’s Center for Public Leadership
Center for Public Leadership
The Center for Public Leadership is an American learning institution that provides teaching, research and training in the practical skills of leadership for people in government, nonprofits, and business. It was established in 2000, through a gift from the Wexner Foundation, at Harvard Kennedy...
. The gift provides tuition for up to ten students each year, characterized as “strategic investments in outstanding individuals with demonstrated promise.” Dubin is a member of the Dean's Executive Committee at the Kennedy School.
Glenn Dubin is also a trustee of the Mt. Sinai Medical Center
Mount Sinai Hospital, New York
Mount Sinai Hospital, founded in 1852, is one of the oldest and largest teaching hospitals in the United States. In 2011-2012, Mount Sinai Hospital was ranked as one of America's best hospitals by U.S...
. He and his wife funded the Dubin Breast Center at Mt. Sinai in 2010 to provide comprehensive integrated breast care in a patient-centered environment. The multidisciplinary Center is headed by co-directors Dr. George Raptis and Dr. Elisa Port.
In addition, the Dubins have funded the Dubin Family Athletic Performance Center at State University of New York at Stony Brook.