GLG Awarded $3B 130/30 Mandate

May 19 2008 | 8:55am ET

GLG Partners has been awarded a mandate from the asset management division of Banca Fideuram to manage three UCITS III 130/30 accounts, which are expected to be funded late in the third quarter with initial assets of approximately $3 billion.

Noam Gottesman, GLG’s co-chief executive officer, said: "We have had a close relationship with Banca Fideuram, which currently has $250 million invested with GLG.”

Tommaso Corcos, chief executive officer of the asset management division of Banca Fideuram, added that the new mandate will give its investors access to “hedge fund like flexibility.”

The management fees charged for the 130/30 products will be set at institutional levels, according to the firms. 

Italian private bank Banca Fideuram currently manages some € 65.5 billion (US$102 billion) in total assets and publicly traded GLG managed over $24 billion in assets as of the end of March.


In Depth

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...