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’While GLG seeks new opportunities
GLG Partners, Europe’s second-biggest hedge fund manager, is seeking acquisitions after listing in New York last year. GLG, which on Wednesday reported better-than-expected Q4 growth, was looking to use the “currency”
Rebel groups win AbCap concessions
Absolute Capital Management offered concessions to investors in its hedge funds after two rebel groups threatened to block restructuring plans at the Aim-listed hedge fund manager. AbCap proposed a smaller increase in future performance fees than previously put forward,
…while GLG accidentally reveals shorting
Europe’s second-largest hedge fund mistakenly exposed its large-scale shorting of shares in Northern Rock on Tuesday after a miscommunication with the Takeover Panel. GLG Partners, a $19 billion (£9 billion) fund manager told the London Stock Exchange that it had failed to make trading disclosures between September 26 and October 5.
GLG hires author-academic for fresh perspective
GLG Partners has hired Niall Ferguson, the writer and history professor, as a consultant to the $19bn London hedge fund as it spreads it net wider in search of investment ideas. Mr Ferguson, a best-selling author,
… As GLG hedge fund slides
GLG European Long-Short fund, one of GLG’s biggest hedge funds with more than $2bn in assets, became one of the latest casualties of the recent market turmoil when it fell 4.4 per cent in value in the first 10 days of August.
GLG pays $3.2m to settle charges
GLG Partners has settled with US regulators for $3.2m over illegal short-selling, just a day after the British hedge fund announced plans for a $3.4bn listing in New York. The fine and repayment of profits announced on Tuesday marks the fourth such sanction in a year for the hedge fund manager,
GLG secures punchy valuation, Lex says
GLG Partners announced on Monday that it plans to access the public markets through a reverse acquisition transaction with shell company Freedom Acquisition Holdings, whose shares have intriguingly gained over 21% since Friday’s opening bell.
GLG to list hedge fund in New York
GLG Partners, one of Europe’s biggest hedge fund managers, is expected to announce on Monday plans to list on the New York Stock Exchange via a reverse takeover that will give its top three executives $625m in cash and value the group at $3.4bn,
Deutsche Bank, hedge funds fined €6.25m
France’s financial watchdog has fined Deutsche Bank and four hedge funds a total of €6.25m after an insider trading probe in relation to a bond issue by Vivendi, the French media and telecoms group.
The French get serious – fines all round
While the world’s gaze turns towards the new baddies of finance, private equity, the French are keen that we don’t forget the other lot: hedge funds.
The French regulator is having a pretty big day.
GLG chief is poached by Jabre Capital Partners
The long-standing head of marketing at GLG Partners, London’s biggest hedge fund, has been poached by GLG’s former star trader Philippe Jabre for his new venture. Mark Cecil, who worked with Mr Jabre for 10 years at GLG,
Defensive stance helps shield hedge funds
Many of the world’s biggest hedge funds have emerged largely unscathed from this week’s turmoil in the markets, with well-known managers such as Paul Tudor Jones’ Tudor Investments, Louis Bacon’s Moore Capital,
GLG to launch green hedge fund
Raw capitalism goes green next month with the launch of an environmentally-friendly fund from GLG Partners — the $17bn London hedge fund manager. GLG told investors in a letter on Friday that it planned to start an Environment Fund filtering the greenest companies from its $1.5bn European Equity strategy at the start of March.
Hedge funds boost performance
Hedge funds sharply improved their performance last year as convertible bonds specialists recovered from a slump and corporate activism and emerging markets produced strong returns. Several of the world’s biggest hedge funds returned more than 30 per cent in the year,
Jabre to open new fund today
Former GLG star trader Philippe Jabre, given a record fine by UK regulators, has recruited a team of 20 for a Geneva-based hedge fund that opens to investors today and aims to raise $2.5bn. According to the FT,