WEST PALM BEACH, FL (HEDGECO.NET) – Lehman Brothers is looking to get further involved in the hedge fund world and is currently in negotiations for the purchase of a hedge fund company. According tonews reports, Lehman is in talks with GLG Partners to purchase its hedge fund operations. Such deal is valued in the range of US$1.5 billion.
The managing directors of GLG Partners, Noam Gottesman, Pierre Lagrange and Philippe Jabre are in preliminary talks with Lehman Brothers for the sale of their fund. All three partners were former employees of Lehman Brothers before they left to start their own hedge fund management business. Understandably both companies were not available for comments.
Other Investment banks, J.P. Morgan Chase & Co., and Citigroup have also jumped into the hedge fund arena. {Hedgeco.net Previous Story} J.P. Morgan is buying a majority stake in Highbridge Capital Management, while Citigroup is developing its own hedge fund management platform.
Industry executives point to this trend as an indication that the hedge fund market may be nearing the top of its market. Others take a more optimistic view by attributing such developments to maturity and widespread acceptance of hedge fund management strategies, which few years back have been described as very risky and dangerous. These views also dispel the hedge bubble fears as well.
GLG Partners, is based in London, and oversees over $10 billion in assets for investors.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
HedgeCo.Net is the most popular hedge fund database and community in the world. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com.
