Wednesday, 23 July 2014
Last updated 1 hour ago
Sep 6 2011 | 3:58am ET
GLG Partners co-founder Pierre Lagrange could be on the hook for more than £160 million in what would be one of the largest divorce settlements in U.K. history.
Lagrange and his wife, Catherine, separated last year, and Lagrange has called their split a "most amicable one." But the father of three is still likely to have to split his estimated £330 million fortune with his wife, with whom he filed divorce papers last month.
In advance of the divorce, Lagrange sold his home on London's "billionaires' row" to Russian billionaire Roman Abramovitch. The latter paid some £90 million for the Kensington Palace Gardens mansion, which Lagrange bought seven years ago for a mere £19 million.
Lagrange, who now works at the Man Group, which acquired GLG last year, has since begun a relationship with fashion designer Roubi L'Roubi, with whom he was seen in April at the Venice Biennale. But Lagrange denied that L'Roubi was the cause of his split with his wife.
"I only met Roubi long after our divorce decision," he told The Telegraph. "My relationship with him is indeed of a romantic nature. My divorce reflects the reality of a separation that has happened a long time ago."
Lagrange now sits on the board of directors of L'Roubi's company, Asked For Designs, which counts St. Paul's Cathedral among its clients.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…