He replaces co-founder Glenn Dubin, who will remain chairman of the alternative investment manager.
Mr. Kapnick joined Highbridge in 2007 to start and run Highbridge Principal Strategies, the firm's global credit and private investment platform. He has grown assets under management to $14 billion. He will continue to serve as CEO of Highbridge Principal Strategies.
“Scott's strong track record at Highbridge and distinguished career at Goldman Sachs provide him with the unique ability to lead and succeed as the next CEO of Highbridge,” Mr. Dubin said in a news release.
Mr. Kapnick reports to Mary Callahan Erdoes, CEO of JPMAM.
Separately, Highbridge Capital President Todd Builione is leaving the firm to join KKR, confirmed Kristi Huller, KKR spokeswoman.
Highbridge Capital has about $31 billion in AUM.