Huge Divorce Settlement For GLG's Lagrange

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.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...