Ex-Highbridge Asia chief's hedge fund gets HK licence

HONG KONG Sun Nov 27, 2011 5:39am EST

HONG KONG Nov 27 (Reuters) - Carl Huttenlocher, former Asia head of JPMorgan Chase & Co's Highbridge Capital, received an asset management licence on Friday to start operations in Hong Kong, the Securities and Futures Commission (SFC) website showed on Sunday.

The licence for Huttenlocher's much-anticipated hedge fund Myriad Asset Management had been delayed because of a review by the regulator after an anonymous complaint.

Myriad had been expected to start trading with a little more than $300 million initially in September and was expected to raise more than $1 billion early next year after opening to external investors, two sources told Reuters in July.

Huttenlocher, who quit Highbridge Capital in March, managed Highbridge's Asia-focused fund, which once had about $2 billion in assets under management.

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