Glenn Russell Dubin (born April 13, 1957) is a billionaire
hedge fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as s ...
manager and the Principal of Dubin & Co. LP, a private investment company. He is the co-founder of
Highbridge Capital Management, an
alternative asset
An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as ...
management company based in
New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...
, and a founding board member of the
Robin Hood Foundation
The Robin Hood Foundation is a charitable organization which attempts to alleviate problems caused by poverty in New York City. The organization also administers a relief fund for disasters in the New York City area. In 2010, a key supporter gave ...
.
Early life
Glenn Russell Dubin was born to a middle-class 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, who later worked in dress manufacturing.
His mother, Edith Dubin (1928–2019), was an
Austrian Jewish
The history of the Jews in Austria probably begins with the exodus of Jews from Judea under Roman occupation. Over the course of many centuries, the political status of the community rose and fell many times: during certain periods, the Jewis ...
immigrant who worked as a hospital administrator.
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
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...
. He was also a member of the school's football team and lacrosse club.
In May 2012, Dubin was the keynote speaker at Stony Brook University's commencement, and was conferred the honorary degree of
Doctor of Letters
Doctor of Letters (D.Litt., Litt.D., Latin: ' or ') is a terminal degree in the humanities that, depending on the country, is a higher doctorate after the Doctor of Philosophy (Ph.D.) degree or equivalent to a higher doctorate, such as the Docto ...
for his contributions to the field of finance and philanthropy.
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
Paul Tudor Jones II (born September 28, 1954) is an American billionaire hedge fund manager, conservationist and philanthropist. In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamfo ...
.
In 1984, Glenn Dubin and his childhood friend
Henry Swieca co-founded Dubin & Swieca Capital Management.
The company was an early
fund of funds
A "fund of funds" (FOF) is an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds or other securities. This type of investing is often referred to as multi-manager investment. A ...
business that constructed multi-manager hedge fund portfolios guided by the principles of
modern portfolio theory
Modern portfolio theory (MPT), or mean-variance analysis, is a mathematical framework for assembling a portfolio of assets such that the expected return is maximized for a given level of risk. It is a formalization and extension of diversificati ...
. 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.
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
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...
—purchased a majority interest in Highbridge for $1.3 billion.
The Financial Times reported in 2006 that JPMorgan paid Glenn Dubin "an estimated $1bn in 2004" for his majority stake in Highbridge Capital Management.
In 2006, Highbridge invested as a joint venture in
Louis Dreyfus Group
Louis Dreyfus Company B.V. (LDC), also called the Louis-Dreyfus Group, is a French merchant firm that is involved in agriculture, food processing, international shipping, and finance. The company owns and manages hedge funds, ocean vessels, dev ...
to increase their access to and control of energy delivery within trading markets.
In July 2009, J.P. Morgan Asset Management completed its purchase of substantially all remaining shares of the firm.
After the purchase, Dubin remained Highbridge's chief executive.
In October 2012, it was announced that Dubin,
Paul Tudor Jones
Paul Tudor Jones II (born September 28, 1954) is an American billionaire hedge fund manager, conservationist and philanthropist. In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamfo ...
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.
In 2013, Dubin founded the quantitative-trading firm Engineers Gate Manager LP.
The company along with Dubin's family office are headquartered at Hudson Yards.
In January 2020, Dubin announced he was retiring from the hedge fund industry after four decades to focus on private investments through his family office, Dubin & Co.
In 2015, CCI acquired
Morgan Stanley
Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...
's Global Oil Merchanting business, creating one of the world's largest independent energy merchants. Dubin was the non-executive chairman, and remains a member of the board of directors and the firm’s lead shareholder.
Philanthropy and donations
In 1987, Dubin was asked by his fellow hedge fund manager and friend
Paul Tudor Jones
Paul Tudor Jones II (born September 28, 1954) is an American billionaire hedge fund manager, conservationist and philanthropist. In 1980, he founded his hedge fund, Tudor Investment Corporation, an asset management firm headquartered in Stamfo ...
to join him and
Peter Borish in a venture philanthropy project Jones had conceived and started. The resulting
Robin Hood Foundation
The Robin Hood Foundation is a charitable organization which attempts to alleviate problems caused by poverty in New York City. The organization also administers a relief fund for disasters in the New York City area. In 2010, a key supporter gave ...
has raised and granted more than $3 billion to fight poverty in New York City. Dubin has served on the board since its founding, is a former Board Chair,
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
The Center for Public Leadership (CPL) is an academic research center at Harvard University that provides teaching, research and training in the practical skills of leadership for people in government, nonprofits, and business. Located at Harvard ...
, an academic research center at
Harvard Kennedy School
The Harvard Kennedy School (HKS), officially the John F. Kennedy School of Government, is the school of public policy and government of Harvard University in Cambridge, Massachusetts. The school offers master's degrees in public policy, public ...
, with a $5 million gift.
He had formed a relationship with the school two years prior while speaking before the school's students.
The fellowship provides tuition for up to ten students each year.
Dubin also serves on the Kennedy School's Dean's Executive Committee.
In 2010, the Dubin family donated $4.3 million to
Stony Brook University towards the creation of the Dubin Family Athletic Performance Center in the
Stony Brook Indoor Sports Complex.
In 2015, the Dubin family donated $5 million towards the creation of Stony Brook University's Indoor Training Facility, which opened in 2020.
Dubin is a trustee of the
Mt. Sinai Medical Center.
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.
On April 19, 2012, Dubin and his wife Eva signed
The Giving Pledge
The Giving Pledge is a campaign to encourage extremely wealthy people to contribute a majority of their wealth to philanthropic causes. , the pledge has 236 signatories from 28 countries. Most of the signatories of the pledge are billionaires, a ...
, created by
Bill Gates
William Henry Gates III (born October 28, 1955) is an American business magnate and philanthropist. He is a co-founder of Microsoft, along with his late childhood friend Paul Allen. During his career at Microsoft, Gates held the positions ...
and
Warren Buffett
Warren Edward Buffett ( ; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net ...
.
The commitment of the pledge is to give away at least 50% of their wealth to charity within their lifetime.
Personal life
In 1994, Dubin married
Eva Andersson-Dubin and the couple has three children, two daughters and one son, Celina, Maya and Jordan.
He first saw Eva on the
New York Post's Page Six in a modeling photo.
The Dubins live in Manhattan and own property in Colorado's
Gunnison County as well as in Sweden.
Dubin and Jeffrey Epstein
There are several connections between Dubin and
Jeffrey Epstein
Jeffrey Edward Epstein ( ; January 20, 1953August 10, 2019) was an American sex offender and financier. Epstein, who was born and raised in Brooklyn, New York City, began his professional life by teaching at the Dalton School in Manhattan, des ...
. Epstein invested millions in Dubin's hedge fund and helped JPMorgan acquire Dubin's firm. Epstein had dated Dubin's wife, Eva Andersson for nearly a decade starting in the 1980s and the Dubins continued to maintain a close friendship with Epstein, traveling on his private jets, vacationing together with their families and visiting each other's homes frequently, including after Epstein's arrest for sex trafficking in 2006. In 2015,
Virginia Roberts Giuffre
Virginia Louise Giuffre ('' née'' Roberts; born August 9, 1983) is an American-Australian campaigner who offers support to victims of sex trafficking. She is an alleged victim of the sex trafficking ring of Jeffrey Epstein. Giuffre created Vi ...
alleged in a lawsuit against
Ghislaine Maxwell
Ghislaine Noelle Marion Maxwell ( ; born 25 December 1961) is a British convicted sex offender and former socialite. In 2021, she was found guilty of child sex trafficking and other offences in connection with the financier and convicted sex o ...
that Maxwell had "directed
er tohave sex with" Dubin. Giuffre did not allege that she had in fact had sex with Dubin.
References
{{DEFAULTSORT:Dubin, Glenn
1957 births
Living people
21st-century philanthropists
American billionaires
American business executives
American financiers
American hedge fund managers
American investors
American people of Austrian-Jewish descent
American people of Russian-Jewish descent
Businesspeople from New York City
EF Hutton people
Giving Pledgers
Jeffrey Epstein
People from Washington Heights, Manhattan
Stony Brook University alumni