Reuters – Greg Coffey, one of the hedge fund industry’s top performers with a pay packet to match, looks set to start his own hedge fund firm when he leaves GLG Partners in October.
Coffey, who finally resigned last week — forfeiting a bonus reportedly worth around $250 million (125 million pounds) — after last-minute talks with GLG about his future, has delivered performance in his specialist area of emerging markets that many managers can only dream of.
"He’s regarded by colleagues and peers as one of the most successful managers in that space," said one hedge fund executive, who asked not to be named because he had worked alongside Coffey in recent years.
The 37-year-old Australian, who joined GLG in 2003 from a hedge fund backed by industry legend George Soros and now runs more than $7 billion of the New York-listed company’s $24.6 billion of assets, won the Fund of the Year award at the EuroHedge Awards for 2007 for his GLG Emerging Markets fund.
