Glenn Dubin
Who
Dubin is a co-founder of Highbridge Capital Management, a hedge fund with $21 billion under management.
Backstory
Glenn Dubin may be the only hedge fund manager who can claim to have met his future business partner in a kindergarten sandbox. The son of a cab driver, Dubin grew up in Washington Heights and met Henry Swieca when they were five. They both headed off to college at SUNY Stony Brook (where Dubin was a running back on the football team) before teaming up professionally when they both ended up at the firm E.F. Hutton. Convincing their bosses to let them start their own firm, they formed Dubin & Swieca to make investments in the futures and commodities markets on behalf of the firm's clients; they later followed up with a fund-of-funds, providing seed capital to the likes of Louis Bacon and Paul Tudor Jones.
Dubin and Swieca's success in the late 1980s minted their reputation—they recorded a 65 percent return in 1987, a year when the overall market plunged 22 percent—and in 1992 they went out on their own to form Highbridge Capital Management with $32 million in capital. (Dubin and Swieca named the firm Highbridge after Manhattan's oldest bridge, an aqueduct in their old neighborhood.)
Of note
In 2004, the duo sold a controlling stake to JP Morgan Chase for $1.3 billion. But they continue to oversee Highbridge's funds and now have roughly $21 billion under management. Like many hedge fund managers, 2007 was a mixed bag for Dubin and Swieca. While the firm's equities fund was up 40 percent, the Highbridge Statistical Opportunities Fund was down 14 percent, and the flagship Master Fund returned a modest 8.5 percent.
Keeping score
Dubin is worth $1.3 billion according to Forbes, making him the 773rd richest man in the world.
Pet causes
Dubin is a founding board member of the Robin Hood Foundation, which he started in 1988 along with pal Paul Tudor Jones. (Dubin tapped the brother of his ex-wife, David Saltzman, to run the group.) One of the first non-profits to adopt a performance-based approach—recipients of the group's funds have to meet certain financial and operating benchmarks to continue receiving funding—Dubin and Jones have since lured some of the biggest names on the Street to sit on the board, including Lloyd Blankfein, Dick Fuld, Steve Cohen, and Dan Och. Dubin also sits on the board of Mount Sinai and used to serve as a board member of the Michael J. Fox Foundation. He's since turned over the seat to his wife.
Campaign trail
Dubin is a staunch Democrat and has made a number of large donations to the party as well as to candidates like Hillary Clinton. Swieca is a Republican donor, however; he's made large contributions to George Bush in the past.
Personal
Dubin's first wife was Elizabeth Saltzman, who is currently the fashion director at Vanity Fair. He's now married to his second wife, Dr. Eva Andersson-Dubin, a former Miss Sweden and Ford model and now a practicing physician. (She works at NBC's in-house medical clinic.) The couple has three kids. In 2006, Dubin paid $30 million for Jackie Kennedy Onassis's old apartment at 1040 Fifth Avenue. The Dubins have a weekend house in North Salem. They put their former apartment, a 12-room duplex at 1010 Fifth Avenue, on the market for $18.5 million with Corcoran broker Deborah Grubman in late 2009.
True story
Not only do Dubin and Paul Tudor invest together and start non-profits together, they're also are occasional tennis partners. But while Jones manages more money than Dubin and is worth nearly twice as much, it's Dubin who usually prevails on the court.
