{"id":5138,"date":"2006-10-12T00:00:00","date_gmt":"2006-10-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"glg-fund-manager-set-up-geneva-hedge-fund","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2006\/glg-fund-manager-set-up-geneva-hedge-fund.html","title":{"rendered":"GLG Fund Manager to set up Geneva Hedge Fund"},"content":{"rendered":"<p>HedgeCo.Net (New York) &#8211; The former manager of <span class=\"caps\">GLG<\/span> Partners, worth $16 billion and Europe\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s biggest hedge fund, is starting up a new fund. The hedge fund, based in Geneva,is likely to start trading next year, after the expiration of a noncompete agreement with <span class=\"caps\">GLG<\/span>.<\/p>\n<div class=\"writeboardbody\">\n<p>    He is in the process of recruiting around 25 staff, and has so far chosen around 12. The new asset management firm is said to be worth about $2 billion.  <\/p>\n<p>    Hedge fund manager Philippe Jabre was fined 750,000 pounds by the <span class=\"caps\">FSA<\/span> earlier this year, making it the largest ever on an individual. The charge was insider trading on a    convertible bond sale for Japan\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Sumitomo Mitsui Financial Group.  <\/p>\n<p>    Because the offshore entity is legally separate from the U.K. hedge fund, Jabre had previously argued that the <span class=\"caps\">FSA<\/span> had no jurisdiction in Japan, but the Financial    Services and Markets Tribunal said in a ruling it was satisfied the <span class=\"caps\">FSA<\/span> did have jurisdiction because the bonds were also traded in London and ultimately controlled by    the U.K. hedge fund.  <\/p>\n<p>    Assets in U.K. hedge funds have nearly quadrupled, to $128.9 billion at the end of the second quarter from $33.1 billion in 2000, according to Hedge Fund Research Inc., a Chicago-based firm that    compiles data on hedge funds. That is nearly 11 percent of the $1.2 trillion invested in hedge funds world-wide, according to <span class=\"caps\">HFR<\/span>.  <\/p>\n<p align=\"left\">    Alex Akesson<br \/>    Contributing Writer<br \/>    HedgeCo.Net<br \/>    Email: <a href=\"mailto:Editor@hedgeco.net\">Editor@hedgeco.net<\/a>   <\/p>\n<div align=\"left\">\n<p align=\"left\">      HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge      Funds!    <\/p>\n<div align=\"left\">\n<p align=\"left\">        <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=        \"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong> and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>      <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net (New York) &#8211; The former manager of GLG Partners, worth $16 billion and Europe\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s biggest hedge fund, is starting up a new fund. The hedge fund, based in Geneva,is likely to start trading next year, after the expiration of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5138","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5138","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5138"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5138\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}