LGIM Invests In GLG UCITS Fund

Mar 10 2010 | 12:25pm ET

Legal & General Investment Management’s multi-manager range has made its first investment in a hedge fund.

The firm has invested £20 million in GLG Partners’ new Alpha Select Fund, a UCITS III-compliant offering which is nearing capacity less than a month after its launch, despite the impending departure of one of its managers.

“We are happy to give them £20 million,” Alan Thein, co-manager of the LGIM multi-manager fund.

“This is our first move into the alternatives space, but this is a good way of leveraging into hedge funds,” he told the Financial Times.

Thein said LGIM had no concerns stemming from the upcoming retirement of GLG co-manager Jason Mackay.

“Nick Judge on the team has a bit more experience anyway,” he said. “But if John White”—the fund’s other manager—“was to go as well, that would change things completely.”


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of