GLG Soft-Closes Market Neutral Fund

Dec 18 2013 | 3:35pm ET

The Man Group has, as promised, closed its GLG Market Neutral Fund to new investors.

The fund, formerly helmed by star trader Philippe Jabre and now managed by Steven Roth, has crossed the US$1 billion, as Man predicted earlier this year. The firm said in 2011 that it would soft-close the fund when it hit that level.

The fund once managed US$3 billion before losing more than half its value during the financial crisis. Roth said two years ago that its much-lower capacity was an indication of how the hedge fund "industry has changed."

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