|GLG Partners, the much heralded European hedge fund is spawning a new UK-based version of its flagship hedge fund, which will managed by Pierre Lagrange. According to Investment Week (UK), the hedge fund will have the same objectives of its flagship fund seeking growth capital preservation through a market neutral strategy. Lagrange, co-founder of the flagship GLG European Equity Alternative fund sees opportunities for his new long-short hedge fund in the slow economic recovery plaguing Europe. |
GLG Partners, which was started in 1995 by Larange along with Noam Gottesman and Jonathan Green, became a subsidiary of the Man Group of UK late last year.