New York (HedgeCo.net) – GLG Partners, Inc,. has been acquired by by hedge fund giant Man Group plc today, making GLG a wholly owned subsidiary of Man. The goal being to create a multi-style, performance-focused alternative asset manager with funds of around $63 billion under management, accordint to a press release by Man.

“The acquisition of GLG is a significant milestone in Man’s development as a global leader in alternative asset management.” Peter Clarke, Chief Executive of Man, said, “The combined firm will have expertise in a wide range of investment styles including managed futures, equity, credit, emerging markets, global macro and multi-manager.”

“Our unrelenting focus on delivering investment performance is allied to powerful product structuring, distribution and client service capabilities.” Clarke said in a statement today, ” Thanks to the swift and extensive progress we have made on integration planning, we are one business as of today. We look forward to introducing GLG’s exceptional investment management capabilities to a broader global market, and intend to make a fast start as a fully integrated business to harness cost and revenue synergies.”

Admission to listing on the Official List of the UKLA and to trading of these new Man shares on the London Stock Exchange’s main market for listed securities occurred with effect from 8.00 a.m. today.

Alex Akesson
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