Forbes – In 2008, Emmanuel \u201cManny\u201d Roman, the co-chief executive of hedge fund firm GLG Partners, showed up to a conference of hedge fund managers and\u00a0predicted\u00a0that at least 25% of the world\u2019s hedge funds would disappear \u201cin a Darwinian process.\u201d<\/p>\n
Less than two years later, Roman sold GLG to\u00a0Man Group, the world\u2019s biggest publicly-traded hedge fund, for $1.6 billion. It was the signature move made by Man Group CEO Peter Clarke, who was looking for a way to increase growth. The deal eliminated a major independent hedge fund firm, GLG, whose three top bosses, including Roman, received hundreds of millions of dollars of Man Groups stock, which they agreed not to sell for at least two years. At the time, Clarke said that the underperformance of AHL, Man Group\u2019s massive computer driven fund, had \u201cnot one jot\u201d of influence over the decision to purchase GLG.<\/p>\n