Friday, 24 April 2015
Last updated 4 hours 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.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…