JPMAM confirmed as manager of £262m BlueCrest All Blue fund

BlueCrest closed fund to new investors in December

J.P. Morgan Asset Management's alternative investment arm Highbridge Capital has confirmed it has won a £262m mandate to become manager of the BlueCrest All Blue Fund Investment trust.

Highbridge will invest the assets into the Highbridge Multi-Strategy fund,  which focuses on relative value strategies with idiosyncratic sources of return. The appointment follows the news in December that BlueCrest, a hedge fund co-founded by Michael Platt, would no longer accept investment subscriptions from third party investors on many of its products, including the All Blue fund, as it became a private investment partnership focusing solely on managing assets for employees and partners. Investors in the trust, which previously had assets under management of around £800m, were gi...