Proposed Investment by JPMorgan Asset Management

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12 September 2019

HIGHBRIDGE MULTI-STRATEGY FUND LIMITED ("HMSF", or the "Company")

Proposed Investment by JPMorgan Asset Management International Limited

The Board of Highbridge Multi-Strategy Fund Limited announces that it has been notified by Highbridge Capital Management, LLC, the Company's investment manager, that its affiliate, JPMorgan Asset Management International Limited ("JPMAM"), intends to seek the Board's approval to subscribe for new Shares representing 4.5% of the Net Asset Value of the Company as at 30 September 2019 (the "Proposed Investment").

Any investment would be subject to the Revised Continuation Conditions set out in the Company's circular to Shareholders dated 28 August 2019 (the "Circular") being satisfied. It is proposed that such subscription would be made by way of a transfer of shares held by JPMAM in Highbridge Multi-Strategy Fund Corporation ("HCC"), the Multi-Strategy Fund entity in which the Company currently invests, in consideration for new Shares in the Company. The Board understands that JPMAM believes that this investment demonstrates its conviction in, and long-term commitment to, the Company and its potential for future growth. 

Smaller related party transaction

The issue of Shares to JPMAM, being an affiliate of the Company's investment manager, is likely to be a smaller related party transaction for the purposes of Listing Rule 11.1.10R. Pursuant to that rule, the Company will in advance of entering into any agreement to issue the Shares be required to obtain written confirmation from a sponsor that the terms of the transaction are fair and reasonable as far as Shareholders are concerned.

A further announcement will be made in due course.

Vic Holmes, Chairman of HMSF, said:

"I am pleased that JPMorgan Asset Management International has signalled its support for the Company and I reiterate the Board's belief that the Company has the potential to grow in size to in excess of £100m."

Terms defined in the Circular have the same meanings in this announcement.

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