Friday, 21 October 2016
Last updated 1 hour ago
Jul 20 2010 | 9:31am ET
Asset management powerhouse GLG Partners took in $2.5 billion in net inflows in the first half of the year, bringing its assets under management to approximately $23 billion.
The NYSE-listed firm's alternative investment strategies saw a return of 3.8%, which lagged the broader markets—the MSCI World Index returned 7.1% and the S&P 500 Index returned 6.9% for the same period.
GLG's 130/30 strategies gained 2.1% for the first half, while the firm's long-only strategies performed the best with a 4.4% gain.
"We saw robust net AUM inflows and continued to deliver strong performance for our investing clients across the GLG platform despite turbulent market conditions in the second quarter,” said Noam Gottesman, chairman and co-CEO of GLG.
In May, the Man Group announced that it would pay US$1.6 billion to buy GLG Partners. The deal is slated to close in September.