JPMorgan Buys Stake In $6B Brazilian Hedge Fund

Law360, New York (October 27, 2010, 3:56 PM EDT) -- JPMorgan Chase & Co. has reached a deal to acquire a majority stake in the $6 billion Brazilian hedge fund Gavea Investimentos, a firm founded by Arminio Fraga, the former president of the Central Bank of Brazil.

The deal is being conducted through JPMorgan hedge fund Highbridge Capital Management as part of a strategy to expand investment opportunities in emerging markets. Financial terms of the deal were not disclosed in a statement unveiling the deal Wednesday.

“This is an important transaction for the future of Gavea...
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