GLG Assets Soar To $23.67B

May 6 2010 | 1:51pm ET

GLG Partners halved its first-quarter loss as its assets under management soared 69%.

The London-based, New York-listed fund said it lost $60.8 million in the first quarter, down from $120.9 million a year earlier.

GLG’s assets under management rose to $23.67 billion, in part from $954 million in net inflows. Management fees rose 24% year-on-year, while performance fees plummeted 75%.

The firm’s revenue rose 3.9% to $53.7 million.

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