GLG Partners
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| Type | Subsidiary |
|---|---|
| Industry | Global Investment Management |
| Founded | 1995 |
| Headquarters | New York, New York, U.S. |
| Area served | Worldwide |
| AUM | US$22.0 billion (2010)[1] |
| Employees | 196 (2010)[2] |
| Parent | Man |
| Website | glgpartners.com |
GLG Partners, Inc. is an American global hedge fund sponsor that, as of 14 October 2010, is a wholly owned subsidiary of British alternative investment manager Man plc [3][4]
It manages separate equity and fixed income portfolios along with investment funds. GLG Partners was founded in September, 1995 by a group of former Goldman Sachs private-client executives. The name is an acronym; the first letter of the last name of the three founding partners - Noam Gottesman, Pierre Lagrange and Jonathan Green. The founding partners were originally backed by Lehman Brothers.[5]
GLG has offices in Mayfair, London and Park Avenue, New York.
As of September 2008, it had $23 billion of assets under management.
GLG was listed on the NYSE in November. 2007. At the time, Lehman had an 11 percent stake in the company.
One of GLG's famous traders is Philippe Jabre. Another renowned trader, Greg Coffey, departed the fund in November 2008.
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.[6] The price for shares of stock on the NYSE (New York Stock Exchange) 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 [7]
In 2011, GLG Partners was mentioned in the list of Top Ten Holdings along with Apple Inc., Seadrill Limited, Qualcomm Incorporated, VMware, Inc., EMC Corporation, Vale S.A., Teya Pharmaceutical Industries Limited, Salesforce.com and Red Hat, Inc.
[edit] Awards
LONDON, March 11, 2010 – GLG Partners LP ("GLG"), the FSA-authorised and regulated investment manager, is pleased to announce that the GLG UK Select Equity Fund and the GLG Japan CoreAlpha Fund won the ‘Best Fund’ prize in their respective categories at the UK Lipper Fund Awards of 2010.
[edit] References
- ^ GLG Partners Website
- ^ - GLG Partners Linkin Company Profile
- ^ http://www.bbc.co.uk/news/10119418 BBC News - Man Group buys fellow hedge fund GLG Partners
- ^ http://online.wsj.com/article/BT-CO-20101014-702837.html
- ^ http://finance.yahoo.com/q/pr?s=GLG
- ^ http://www.ft.com/cms/s/0/8a49881c-6186-11df-aa80-00144feab49a.html
- ^ http://online.wsj.com/article/BT-CO-20101014-702837.html
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