GLG Partners: Difference between revisions
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{{ infobox company |
{{ infobox company |
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| company_name = GLG Partners | |
| company_name = GLG Partners | |
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| company_logo = [[ |
| company_logo = [[File:GLG Partners (logo).jpg]|center|logo|100px]] | |
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| foundation = 1995| |
| foundation = 1995| |
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| location_city = [[London, United Kingdom]] |
| location_city = [[London, United Kingdom]] |
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Revision as of 13:46, 3 July 2014
| [[File:GLG Partners (logo).jpg]|center|logo|100px]] | |
| Company type | Subsidiary |
|---|---|
| Industry | Hedge fund |
| Founded | 1995 |
| Headquarters | |
Area served | Worldwide |
| AUM | US$ 26.2 billion (2012)[1] |
Number of employees | 150 (2012) |
| Parent | Man |
| Website | glgpartners.com |
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 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]
References
- ^ 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.
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