GLG Partners, a London-based wholly owned subsidiary of Man Group, has launched a new hedge fund that will trade the stocks of global companies.
The new hedge fund is modelled after the company’s flagship European equity pool.
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According to Bloomberg, the fund started trading this month and is overseen by Pierre Lagrange, Simon Savage and Darren Hodges, who manage the firm’s US$3 billion European Long-Short Fund.
GLG is intending to hire traders and analysts with experience investing in US and Asian companies to work on the fund, teh publication reported quoting unidentified sources.
The publication quoted Emmanuel Roman, CEO of Man Group, saying that the firm has been unveiling new hedge funds in a bid to boost assets after clients pulled more than US$10 billion from its AHL Diversified since the end of 2010.
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