Glenn Dubin: The “Robin Hood” Of Wall Street
Glenn Dubin is a self-made billionaire. He is the Principal of Dubin & Co. LP, a private investment company managing a diversified portfolio of operating businesses and other investments across a broad range of industries and asset classes. He made the billions all on his own or with a partner or two. He was born in 1957 in New York, New York. His father was a cab driver. He met his future business partner, at a very young age. In fact they were in kindergarten. They became best friends from day one and still are to this day. He went to Kennedy high school. He and his friend then went to Stony Brook University.
Dubin began his career in finance as a retail stock broker at E. F. Hutton & Co. 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.
Highbridge Capital Management is an institutional alternative asset management company which, together with its affiliates, manages approximately $30 billion in capital. The firm is based in New York with offices in London and Hong Kong.
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.
In October 2012, it was announced that Glenn Dubin, Paul Tudor Jones and a group of commodity market luminaries were to buy the merchant energy operation Louis Dreyfus Highbridge Energy (“LDH Energy”). Founded in 2006 as a joint venture between the Louis Dreyfus Group and Highbridge Capital Management, the new company is called Castleton Commodities International, LLC where Dubin is Chairman and lead shareholder
He has several causes that he personally funds, one being the Robin Hood Foundation with Paul Tudor. Recipients of the group’s funds have to meet certain financial and operating benchmarks to continue receiving funding. He also sits on the board of Mount Sinai, for breast cancer. He was on the board of the Michael J. Fox Foundation, but has since stepped down and his wife replaced him. He and Paul Tudor not only sit on the board together. They also are tennis partners. Tudor is worth twice as much as him, but they laugh about the fact that he can beat him on the courts.
A little personal information about him is that he has been married twice. His wife now is a former Miss Sweden and is a practicing doctor. They have three children together. He paid thirty million dollars for Jackie Kennedy Onassis’s old apartment. They also have a weekend house in North Salem that they spend a lot of time at as a family.
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