  We generalize the hyperkaehler quotient construction to the situation where
there is no group action preserving the hyperkaehler structure but for each
complex structure there is an action of a complex group preserving the
corresponding complex symplectic structure. Many (known and new) hyperkaehler
manifolds arise as quotients in this setting. For example, all hyperkaehler
structures on semisimple coadjoint orbits of a complex semisimple Lie group $G$
arise as such quotients of $T^*G$. The generalized Legendre transform
construction of Lindstroem and Rocek is also explained in this framework.
