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

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…