Pierre Lagrange

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Pierre Lagrange (born 1962) is a Belgian hedge fund manager, financier, and co-founder of GLG Partners. His net worth is estimated at £500 million according to the Sunday Times.

Early life and education[edit]

Lagrange was born in Belgium.[1] He received a MS degree in Business Engineering (Ingénieur de Gestion) from the Solvay Brussels School of Economics and Management.[2]

Career[edit]

Lagrange worked for JP Morgan and Goldman Sachs before co-founding GLG Partners in 1995 with Noam Gottesman and Jonathan Green as a division of Lehman Brothers. The name of the company is composed of the first initials of each of the founder's last names.[3] GLG became independent in 2000 and went public in 2007 listing on the New York Stock Exchange.[4] In 2010, GLG Partners was purchased by the Man Group for US$1.6 billion forming the world's largest hedge fund.[4] The two remaining GLG founders Noam Gottesman and Pierre Lagrange - Greene had left the company prior to the Man Group purchase - each received a $200 million shareholding in the Man Group in return for a three-year promise to stay.[3]

Personal life[edit]

In September 2011, it was published that he will divorce of his wife Catherine Anspach with whom he has three children. The divorce settlement is expected to be the largest in British history estimated at more than £160 million or fifty percent of his estimated net worth. He is now living together with the London fashion designer Roubi L'Roubi.[5]

He owned the Grade II listed Woodperry House in Oxfordshire, before downsizing in 2006 to a country house in Hampshire.[6] In August 2011 he also reportedly sold a house at 17 Kensington Palace Gardens to the Russian-born billionaire Roman Abramovich, for £90 million.[7]

In 2008, Lagrange earned £400 million.[1] In 2009, the Sunday Times Rich List reported that his wealth declined £265 million to £195 million due to the credit crunch.[8] In September 2011, his wealth had rebounded to £300 million.[9]

References[edit]