GLG Partners, a subsidiary of Man Group, has reportedly soft-closed its market neutral hedge fund after inflows took the strategy beyond US$1 billion in size.
Managed by Steve Roth, the fund has been closed to keep it more nimble by maintaining it at an optimal size, Investment Week has reported.
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In 2011, GLG said that the fund may start handing back capital to its existing investors in the future in order to keep it at a size which will not impact performance.
The hedge fund will trade using a range of strategies, including convertible arbitrage, long/short credit, capital structure arbitrage, distressed debt and event-driven.
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