Item 1.01. Entry into a Material Definitive Agreement.

On January 8, 2008, Highbury Financial Inc. ("Highbury") entered into a Warrant Repurchase Agreement (the "Agreement") with Context Capital Management LLC, as investment manager to certain warrantholders of Highbury. Pursuant to the Agreement, Highbury agreed to repurchase 1,802,892 warrants to purchase an aggregate of 1,802,892 common shares of Highbury (the "Warrants ") for an aggregate purchase price of $1,802,892, or $1.00 per Warrant. The closing of the repurchase of the Warrants occurred on January 10, 2008.

Item 9.01. Financial Statements and Exhibits

Exhibits Exhibit Description No. 99.1 Warrant Repurchase Agreement, dated as of January 8, 2008, by and among Highbury Financial Inc. and Context Capital Management LLC, as Investment Manager to certain warrantholders of Highbury Financial Inc.

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