September 5, 2011 / 1:56 AM / 8 years ago

Ex-Highbridge Asia head's fund launch delayed by SFC review - WSJ

HONG KONG, Sept 5 (Reuters) - Carl Huttenlocher, former Asia head of JPMorgan Chase & Co’s Highbridge Capital, has delayed the Sept. 1 launch of his hedge fund Myriad because of a regulatory review by the Hong Kong’s Securities and Futures Commission, according to the Wall Street Journal.

The regulator “is exploring allegations that Carl Huttenlocher, who left the bank’s Highbridge Capital Management earlier this year, or others working for his fund improperly valued illiquid assets among other actions during the height of the financial crisis and its aftermath,” the report said citing unnamed sources.

Huttenlocher could not immediately be reached for comment.

Huttenlocher’s hedge fund was expected to start trading with about $300 million initially, two sources had told Reuters in July. The fund was expected to raise well above $1 billion early next year after opening to external investors, the sources had said. (Reporting by Nishant Kumar; Editing by Chris Lewis)

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