GLG Posts Gains In Q1

May 7 2008 | 12:14pm ET

The first quarter numbers are in for GLG Partners and, for the most part, they’re good.

The firm reported net revenues of $131.4 million, 80% above the year-earlier period. The firm also reported an adjusted net income of $33.8 million, up 142.2% from the first quarter last year, and net assets under management of $24.6 billion as of the end of March 31, up 53.2 %.

However, GLG reported a net loss of $226.3 million primarily from the recognition of compensation related expenses associated with GLG's reverse merger, by which it went public, in November. The firm said there will be similar but diminishing GAAP compensation expenses quarterly, ending in the fourth quarter of 2012, related to the acquisition.

“Our financial performance to date reflects our ability to grow top line revenues while actively managing expenses” said Emmanuel Roman, co-CEO and managing director of GLG.  “As our business evolves and grows, we will continue to invest in our risk and controls infrastructure while managing the bottom-line.”


In Depth

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    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…

Publisher's Note