GLG Man (formerly GLG Partners) is a risk-free investment manager and a wholly owned subsidiary of alternative investment manager United Kingdom Man Group plc. It is a diversified and multi-strategy fund manager that operates strategies including short-term equity funds, convertible arbitrage funds, emerging market funds, and long-term mutual funds. The company is also a founding member of the Hedge Fund Standards Board and the signatory Principle for Responsible Investment. As of June 2015, Man GLG has a managed $ 33.3bn asset.
Video GLG Partners
Histori
GLG was founded in 1995 by Noam Gottesman, Pierre Lagrange and Jonathan Green, as a Lehman Brothers unit. The three founders met while working at Goldman Sachs private business business in the 1980s.
GLG was separated by Lehman in 2000 before going public in 2007 through an upside merger with Freedom Acquisition Holdings. At the time of the merger, GLG Partners Inc. is priced at £ 3.3 billion, the largest alternative investment manager in Europe. In April 2009, GLG Partners acquired SociÃÆ' Â © EleÃÆ' rleale Asset Management UK, added $ 8.2bn in AUM and increased GLG exposure to the UK retail market.
Man Group plc acquired GLG Partners in May 2010, paying $ 1.6 billion ($ 4.50 per share) in cash and new shares. Merger is the largest acquisition in the hedge fund industry. This acquisition was completed on October 14, 2010.
In 2015 Man GLG acquires Silvermine Capital Management, a US-based investment adviser, and NewSmith LLP, equity investment manager. Man GLG reportedly paid $ 23.5 million for Silvermine; the acquisition is said by Hedgeweek to provide the GLG Man with more expertise in the US credit market and expand the presence of North American companies. The Telegraph notes that the acquisition of NewSmith will expand the presence of Man GLG in the Japanese market.
In December 2013, Man GLG completed the cost borne by the SEC after the failure of the company's internal controls caused it to overstate its stake in a coal mining company. GLG does not recognize or deny the allegations. In January 2014, billionaire investor Richard Desmond sued GLG and Credit Suisse for losses from investments that Desmond declared "too complicated to understand". GLG denied advising Desmond on the transaction; the company also believes that Desmond is actually a sophisticated investor, having invested more than $ 15 million with GLG since 1998. The case was settled out of court by 2015.
Maps GLG Partners
Structure and operation
Man GLG is a multi-team discretion investment manager, utilizing absolute returns and long-term strategies across asset classes, sectors and geography. The company has its headquarters in London, with offices in New York, Hong Kong, and PfÃÆ'¤ffikon.
The 2014 Man Group trade statements report that Man GLG has had a "mixed" year, but that the acquisition of Silvermine in January 2015 will boost the CLO business of the US division.
Man Group acquired part of GLG Partners to diversify its business to more institutional clients. In an interview with Retirement and Investment, Manny Roman (former co-CEO at GLG and Man Group) said: "When GLG was acquired by the Man Group, there was a clear change in strategy, under new leadership, in terms of what we want to achieve and what we want to do, we want the company to serve institutional clients and focus on the market ".
References
External links
- Official GLG Partner Web Site
- Principles for Responsible Investment
- The Hedge Fund Standards Board
Source of the article : Wikipedia
0 Comments