Glenn Dubin

Glenn Russell Dubin (born April 13, 1957) is the Principal of Dubin & Co. LP, a private investment company managing a portfolio of operating businesses and other investments. He is also the co-founder of Highbridge Capital Management, an alternative asset management company based in New York City, and a founding board member of the Robin Hood Foundation. In August 2019, unsealed documents revealed connections between Dubin and Jeffrey Epstein, including allegations of involvement in his child abuse ring.[6]

Glenn Dubin
Dubin in September 2010
Born (1957-04-13) April 13, 1957
Washington Heights, Manhattan, New York, US[1]
NationalityAmerican
Alma materStony Brook University (B.A.)[1]
OccupationHedge fund manager
Known forCo-Founder, Highbridge Capital Management[2]
Founder, Engineers Gate
Investor, Castleton Commodities International
Net worthUS$2.0 billion (December 2019)[1]
Spouse(s)Eva Andersson-Dubin[3] (1994)[4]
Children3[5]
Parent(s)Harvey Dubin
Edith Dubin

Early life

Glenn Russell Dubin was born to a middle-class Jewish family in the Washington Heights section of upper Manhattan. He is the oldest son of Harvey and Edith Dubin. His father Harvey (1926-2011), a Russian Jew, was a taxi driver[5] who later worked in dress manufacturing. His mother Edith Dubin (1928-2019) was an Austrian Jewish immigrant who worked as a hospital administrator, he has a brother ,Kenneth.

Dubin attended public school at Washington Heights' P.S. 132 and went on to attend college at Stony Brook University, where he graduated in 1978 with a degree in economics. He was also a member of the school's football team and lacrosse club.[7] In 2010 the Dubins donated $4.3 million to Stony Brook University towards the Dubin Family Athletic Performance Center.[8]

Career

Dubin began his career in finance as a retail stock broker at E. F. Hutton & Co. in 1978. At E. F. Hutton & Co. Dubin met and worked with Paul Tudor Jones.[9]

In 1984, Glenn Dubin and his childhood friend Henry Swieca co-founded Dubin & Swieca Capital Management.[10] The company was an early fund of funds business that constructed multi-manager hedge fund portfolios guided by the principles of modern portfolio theory. In 2005, the firm was renamed Corbin Capital Partners, as Dubin and Swieca were no longer involved in the day-to-day management of the company. The new name reportedly originated from an intersection in Washington Heights where the founders first met when they were 5 years old.[11]

In 1992, Dubin and Swieca founded Highbridge Capital Management with $35 million in capital, naming the institutional alternative-asset management firm after the 19th Century aqueduct that connects Washington Heights with the Bronx. In late 2004, J.P. Morgan Asset Management—a division of JPMorgan Chase—purchased a majority interest in Highbridge.[12][2] The Financial Times reported in 2006 that JPMorgan paid Glenn Dubin an "an estimated $1bn in 2004" for his majority stake in Highbridge Capital Management.[13]

In July 2009, J.P. Morgan Asset Management completed its purchase of substantially all remaining shares of the firm.[2] After the purchase, Dubin remained Highbridge’s chief executive.[14] By 2011, Dubin was sharing responsibilities for managing Highbridge with Todd Builione and Scott Kapnick.[15] By 2013, Glenn Dubin had "handed control" of Highbridge to Scott Kapnick a former Goldman Sachs banker, but continued to work in the firm’s New York offices.[16]

In 2013, Dubin founded the quantitative-trading firm Engineers Gate Manager LP.[17] The company along with Dubin's family office are headquartered at Hudson Yards.[17] In January 2020 Dubin announced he was retiring from the hedge fund industry after four decades to focus on private investments.[18]

Investments

In 2006, Highbridge invested as a joint venture in Louis Dreyfus Group to increase their access to and control of energy delivery within trading markets.[12] In October 2012, it was announced that Dubin, Paul Tudor Jones and Timothy Barakett were among a group of investors buying the merchant energy operation, then called Louis Dreyfus Highbridge Energy ("LDH Energy"), and renamed the firm Castleton Commodities International, LLC.[19][20]

Philanthropy

In 1987, Dubin was asked by fellow hedge fund manager and close friend Paul Tudor Jones to join him and Peter Borish in a venture philanthropy project Jones had conceived and started. The resulting Robin Hood Foundation has raised and granted more than $2 billion to fight poverty in New York City.[21] Dubin has served on the board since its founding, is a former Board Chair,[22] and sits on the Jobs and Economic Security subcommittee.

In 2010, Dubin established the Dubin Fellowship for Emerging Leaders at the Center for Public Leadership, an academic research center at Harvard Kennedy School, with a $5 million gift.[23] He had formed a relationship with the school two years prior while speaking before the school's students.[24] The fellowship provides tuition for up to ten students each year.[23] Dubin also serves on the Kennedy School’s Dean's Executive Committee.[25]

Dubin is a trustee of the Mt. Sinai Medical Center.[23] He and his wife funded the Dubin Breast Center of the Tisch Cancer Institute at Mount Sinai in 2010 to provide comprehensive integrated breast care in a patient-centered environment. The multidisciplinary Center is headed by Dr. Elisa Port.[26]

On April 19, 2012 Dubin and his wife Eva signed The Giving Pledge, created by Bill Gates and Warren Buffett.[27] The commitment of the pledge is to give away at least 50% of their wealth to charity within their lifetime.[27][5]

Personal life

In 1994, Dubin married Dr. Eva Andersson and the couple has three children (two daughters and a son).[3] He first saw Eva on the New York Post's Page Six in a modeling photo.[5]

The Dubins live in Manhattan and own property in Colorado's Gunnison County as well as in Sweden.

In August 2019, unsealed documents revealed connections between Dubin and Jeffrey Epstein, including allegations of involvement in his sexual abuse ring.[6] Former house manager for the Dubins, Rinaldo Rizzo, described a 2005 encounter at the Dubin's home with a 15-year-old girl employed as a nanny. Rizzo said the girl, who was shaking and crying, told him that she was pressured by Ghislaine Maxwell to have sex with Epstein, with Maxwell taking her passport when she refused.[28] A month into her employ, according to The Daily Beast, the Dubins took the girl with them to Sweden, where she was dropped off at an airport.[4] The unsealed court documents were from a lawsuit filed in 2015 against Maxwell by Virginia Roberts Giuffre who named several individuals as participants in Epstein's sex trafficking scheme that included Glenn Dubin as one of the men with which Epstein and Maxwell forced her to have sex.[28][29]

References

  1. "#1168 Glenn Dubin". Forbes. Forbes Media LLC. August 29, 2019. Retrieved August 29, 2019.
  2. "JPMorgan to Acquire Rest of Highbridge Capital" (DealBook). New York, N.Y., United States: New York Times. The New York Times Company. June 11, 2009. Retrieved August 29, 2019.
  3. Mcdonell-Parry, Amelia (August 22, 2019). "Jeffrey Epstein: Who's Who in Underage Sex Trafficking Case". United States: Rolling Stones. Penske Business Media, LLC. Retrieved August 29, 2019.
  4. Briquelet, Kate; Daly, Michael (August 19, 2019). "NYC Power Couple's Butler Says Swedish Teen Told Him of Epstein Island Horrors". United States: The Daily Beast. The Daily Beast Company LLC. Retrieved August 29, 2019.
  5. Tuckwood, Jan (June 11, 2018). "Dubin Breast Center: Doctor Turns Her Experience Into a Healing Center" (Lifestyle). United States: Palm Beach Post. GateHouse Media, LLC. Retrieved September 2, 2019.
  6. Saul, Emily; Denney, Andrew (August 9, 2019). "Jeffrey Epstein's alleged 'sex slave' reveals the men she claims she was forced to sleep with" (METRO). New York, N.Y., United States: New York Post. NYP Holdings, Inc. Retrieved August 9, 2019.
  7. "Athletics Receives $4.3M Gift for New Strength Facility". United States: Stony Brook University Happenings. Stony Brook University. October 6, 2010. Archived from the original on November 1, 2010. Retrieved August 29, 2019.
  8. Schonbrun, Zach (June 13, 2012). "At Stony Brook, Baseball Is Just the Latest Success Story" (Sports). New York, N.Y., United States: New York Times. The New York Times Company. p. B15. Retrieved August 29, 2019.
  9. Wachtel, Katya (June 15, 2011). "Meet Obama's New Best Friends". United States: Business Insider. Business Insider Inc. Retrieved January 1, 2020.
  10. Schurr, Stephen (April 16, 2006). "Nobel to Invest in Hedge Funds for First Time" (Financials). London: Financial Times. Nikkei. Retrieved August 30, 2019.
  11. "Corbin Capital Partners Is the New Name for Hedge Fund-of-Funds...". United States: Pensions & Investments. Crain Communications Inc. May 25, 2005. Retrieved August 30, 2019.
  12. Sorkinjan, Andrew (January 8, 2007). "Highbridge Hedge Fund Buys Stake in Louis Dreyfus Energy Business" (Business Day). New York, N.Y., United States: New York Times. The New York Times Company. p. C2. Retrieved August 29, 2019.
  13. Wighton, David; Brewster, Deborah (September 26, 2006). "Amaranth Losses 'Boost for Backed Funds'" (US & Canadian Companies). New York, N.Y., United States: Financial Times. Nikkei. Retrieved August 30, 2019.
  14. Guerrera, Francesco; Rathbone, John (October 26, 2010). "JPMorgan Inks $6bn Brazil Hedge Fund Deal" (Banks). New York, N.Y., United States: Financial Times. Nikkei. Retrieved August 30, 2019.
  15. McCrum, Dan (April 8, 2011). "Builione Named as President at Highbridge" (Hedge Funds). New York, N.Y., United States: Financial Times. Nikkei. Retrieved August 30, 2019.
  16. Tett, Gillian (August 29, 2013). "Hedge Funds Should Invest in Smoother Handovers" (Hedge Funds). Financial Times. Nikkei. Retrieved August 30, 2019.
  17. Morris, Keiko (December 4, 2017). "Hudson Yards Is Attracting More Financial Firms". New York, N.Y., United States: Wall Street Journal. Dow Jones & Company Inc. ISSN 0099-9660. Retrieved August 31, 2019.
  18. Delevingne, Lawrence; Herbst-Bayliss, Svea (January 24, 2020). "Exclusive: Hedge fund billionaire Glenn Dubin retires from industry after 40 years" (Business News). New York, N.Y., United States: Reuters. Thompson Reuters. Retrieved January 25, 2020.
  19. "Louis Dreyfus and JPMorgan to Sell Energy Trading Venture" (DealBook). New York Times. The New York Times Company. October 4, 2012. Retrieved August 29, 2019.
  20. McCrum, Dan; Blas, Javier (October 3, 2012). "Louis Dreyfus to sell energy trader". New York, N.Y., United States: Financial Times. Nikkei. Retrieved August 29, 2019.
  21. Serwer, Andy (September 18, 2006). "The legend of Robin Hood". Fortune. Retrieved October 29, 2010.
  22. White, Ben; Wighton, David (December 15, 2006). "The Disarming Banker" (Investment Banking). Financial Times. Nikkei. Retrieved August 30, 2019.
  23. "Gift launches fellowship fund" (News & Announcements). United States: The Harvard Gazette. Harvard. February 26, 2010. Retrieved October 29, 2010.
  24. Lorey, Andrew (March 1, 2010). "Kennedy School Receives $5 Million Gift to Support New Fellowship". United States: The Crimson. The Harvard Crimson. Retrieved September 1, 2019.
  25. McCafferty, Molly; Tumey, Jania (August 18, 2019). "Harvard Kennedy School Donor Glenn Dubin Implicated in Epstein's Alleged Sex Ring, Unsealed Filings Allege". United States: The Crimson. The Harvard Crimson. Retrieved September 1, 2019.
  26. "Eva Andersson-Dubin, MD and Glenn Dubin's donation establishes Dubin Breast Center". The Mount Sinai Medical Center. Retrieved October 29, 2010.
  27. Loomis, Carol; Helft, Miguel (April 19, 2012). "The Total Number of Members, Many Signing Jointly With Their Spouses, Has Reached 81". United States: Fortune. Fortune Media IP Limited. Archived from the original on April 20, 2012. Retrieved August 29, 2019.
  28. Brown, Julie K.; Blaskey, Sarah (August 9, 2019). "Huge cache of records details how Jeffrey Epstein and madam lured girls into depraved world". Miami Herald. Retrieved February 25, 2020.
  29. Sherman, Gabriel (August 9, 2019). "Powerful Men, Disturbing New Details in Unsealed Epstein Documents". Vanity Fair. Retrieved February 25, 2020.
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