Volcker Rule? JPMorgan Just Bought a $6 Billion Brazilian Hedge Fund

(Last Updated On: October 28, 2010)

If you had any lingering hope that the Volcker Rule would keep taxpayer protected banks from acquiring hedge funds, it will be quashed by today’s announcement that JPMorgan Chase has signed a deal to acquire a controlling stake in the Brazilian hedge fund Gavea Investimentos. The $6 billion hedge fund founded by the former head of the central bank of Brazil will be owned through JP Morgan’s own hedge fund, Highbridge Capital Management.

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