{"id":32552,"date":"2012-11-16T08:38:44","date_gmt":"2012-11-16T13:38:44","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=32552"},"modified":"2012-11-16T08:44:25","modified_gmt":"2012-11-16T13:44:25","slug":"hedge-fund-giant-man-sells-lehman-residuals","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2012\/hedge-fund-giant-man-sells-lehman-residuals.html","title":{"rendered":"Hedge Fund Giant Man Sells Lehman Residuals"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/10\/MI-BD632_MAN_D_20100527180458.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-18259\" title=\"Peter Clarke, CEO of Man Group\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/10\/MI-BD632_MAN_D_20100527180458.jpg\" alt=\"\" width=\"170\" height=\"154\" \/><\/a>New York (HedgeCo.Net) &#8211; Hedge fund giant\u00a0Man\u00a0Group has decided to sell it&#8217;s residual exposure to the collapsed US investment bank Lehman Brothers\u00a0that it acquired in July 2011 from certain GLG managed funds.<\/p>\n<p>The residuals are being sold for\u00a0$456 million, UK newspaper The Guardian reports, Man\u00a0may receive up to a further $5m if overall recoveries by the buyer exceed certain thresholds in the future. The Lehman claims were valued at $346m on the 30th June 2012.<\/p>\n<p>The proceeds will be used to increase Man&#8217;s regulatory capital surplus and lift its cash position. The hedge fund giant also announced plans to cut costs by almost $200 million by the end of 2013.<\/p>\n<p>Alex Akesson <br \/>Editor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Hedge fund giant\u00a0Man\u00a0Group has decided to sell it&#8217;s residual exposure to the collapsed US investment bank Lehman Brothers\u00a0that it acquired in July 2011 from certain GLG managed funds. The residuals are being sold for\u00a0$456 million, UK [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16044,3],"tags":[],"class_list":["post-32552","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-strategies-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=32552"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32552\/revisions"}],"predecessor-version":[{"id":32560,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32552\/revisions\/32560"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=32552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=32552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=32552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}