Wednesday, 26 November 2014
Last updated 34 min ago
Oct 14 2010 | 10:12am ET
The biggest merger in hedge fund history is now history, after the Man Group completed its $1.6 billion acquisition of GLG Partners.
The deal, which creates the world’s largest hedge fund firm, closed today, with GLG becoming a wholly-owned subsidiary of Man. GLG announced, one day after its shareholders approved the Man offer, that 96% of its outstanding warrants had been tendered in an offer that expired early this morning.
While GLG shareholders received cash for their shares, GLG heads Noam Gottesman, Pierre Lagrange and Emmanuel Roman split more than 162 million new Man shares. Roman has also been named chief operating officer of Man.
“The combined firm will have expertise in a wide range of investment styles including managed futures, equity, credit, emerging markets, global macro and multi-manager,” Man CEO Peter Clarke said. “Our unrelenting focus on delivering investment performance is allied to powerful product structuring, distribution and client service capabilities.”
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...