Thursday, 18 December 2014
Last updated 40 min ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.