|Headquarters||London, United Kingdom|
|AUM||US$ 26.2 billion (2012)|
GLG Partners, Inc. is an London-based hedge fund that, as of 14 October 2010, is a wholly owned subsidiary of British alternative investment manager Man plc. In 2010 it was acquired by Man. GLG then was Europe's third largest hedge fund. The firm now oversees $26.2 billion.
GLG operates equity long-short funds, convertible arbitrage funds, emerging market funds and long-only mutual funds. GLG was founded in 1995 by Noam Gottesman, Pierre LaGrange and Jonathan Green as a unit of Lehman Brothers. The investment bank span it off in 2000. GLG Partners went public in 2007 through a reverse merger.
On May 17, 2010, it was announced that Man Group plc was to take over GLG partners, valuing the company at $1.6 billion, or $4.50 per share. The price for shares of stock on the NYSE rose from $2.91 to $4.36 overnight. The stock had risen almost 50% before the market opened. The acquisition was finalised on 14 October 2010. It was the largest acquisition in hedge fund industry.
In May 2011, the firm launched the GLG global sustainability equity fund, which focuses on a range of large and mid-sized firms in a number of sectors focusing on sustainability. Sectors include healthcare, transportation, education and water management.
- GLG Partners Website.
- Bloomberg: Man Group to Acquire GLG in $1.6 Billion Deal.
- Bloomberg: GLG Partners Going Public in the U.S. Through Merger.
- Financial Times: Man agrees $1.6bn takeover of rival GLG.
- Financial Times: All eyes on hedge fund world’s largest merger.
- "GLG Partners launch global sustainability equity fund". Money Marketing. Retrieved 26 February 2013.