Constellation Growth Capital, a growth equity investor in the convergence of media, communications and technology, has become part of Highbridge Capital Management's principal investmenPARA_BREAK_SENTINEL_9f8e7d6c Constellation Growth Capital, a growth equity investor in the convergence of media, communications and technology, has become part of Highbridge Capital Management's principal investment effort, Highbridge Principal Strategies, and has closed its third fund at USD200m. Highbridge Capital Management is a global alternative investment and asset management firm. Currently, Highbridge manages approximately USD21bn of capital for financial institutions, corporate pension funds, university endowments and family offices. Constellation, established in 1998 by Clifford Friedman, has raised three funds with total investment assets of over USD650m. Collectively the funds currently have 14 active portfolio companies in the media and communications sector, including: Dahlia Italy, Italy's second largest pay-DTT operator; MediaXstream, a provider of high quality transport and network services for producers and broadcasters; and OnePhone, a mobile enterprise telephony solution provider. Investors in the investment vehicles managed by Constellation include high-value limited partners such as state and local public pension funds and international corporations. In addition to previously announced fund realizations, Constellation has executed a number of successful exits, including: Savvis Communications, a provider of high performance and low cost information technology infrastructure; K12, a supplier of online curriculum; and Origin Digital, a global video applications service provider, which was acquired by Accenture in 2008. Constellation's principals, led by Cliff Friedman (pictured) and including Tom Wasserman and Liza Boyd, have worked together for over eight years. Friedman says: 'The move to Highbridge puts us on the platform of one of the world's pre-eminent alternative investment managers. To close Constellation's third fund at USD200m in the current environment is a tremendous achievement, and demonstrates the confidence of our existing and new limited partners in Constellation's continued success.' Scott Kapnick, chief executive of Highbridge Principal Strategies, adds: 'Constellation Growth Capital is a perfect fit for Highbridge. Constellation has an outstanding team with a long and successful track record and we all look forward to working with Cliff and his team to take the franchise to the next level.'
Exploiting the volatility premium through systematic strategies
With over $2bn in AUM just two years after launch, Empureon is leveraging volatility premiums, portfolio hedging and portable alpha to…
More
Alternative Views Ahmet Peker and Daniel Lucke
In Alternative Views Hedgeweek®,goes behind closed doors with those in the know to get the latest on hedge funds. Today, we speak to Ahmet…
More
Removing human bias from an concentrated market
Mast Investments outline how systematic investment processes seek to reduce behavioural biases while identifying opportunities created by…
More
