GLG Partners

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GLG Partners
Type Subsidiary
Industry Hedge fund
Founded 1995
Headquarters London, United Kingdom
Area served Worldwide
AUM US$ 26.2 billion (2012)[1]
Employees 150 (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.[2] 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.[3]

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.[4] 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.[5]

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.[6]