GLG’s Alternative Strategy AUM Fall by $13.5 billion

May 12th, 2009
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GLG Partners released its first quarter earnings yesterday, revealing that the firm’s assets under management have fallen from $24,646 million on 3/31/08 to $14,031 million as of 3/31/09. Over the same period, GLG’s “Alternative Strategy” funds precipitously dropped from $19,267million to just $5,709 million. The $13,558 drop in strategy assets can be attributed to poor performance and a wave of investor withdrawals following the loss of the firm’s star trader, Greg Coffey, to Moore Capital Management.

On a slightly positive note, the firm’s managed accounts business jumped from $2,385 million to $6,352 million. This jump is due to the recent acquisition of Société Générale Asset Management UK. Over the first quarter of 2009, the firm posted a loss off $120.3 million, which is 47% less than the $226.3 million the firm lost during the first quarter of 2008.
See Press Release
For Detailed Investor Profiles on these Investors, click below:
GLG Partners
Moore Capital Management
Related People: ; Emmanuel "Manny" Roman; Greg Coffey; Henry Bedford*; Jason Mackay*; Jean-Philippe Blochet; John White; Louis Bacon; Mark Jones; Noam Gottesman*; Pierre Lagrange; Teun Johnston
Related Entities: GLG Alpha Select Fund; GLG Partners Inc; GLG UK Growth; GLG UK Income; GLG UK Select; Moore Capital Emerging Markets; Moore Global Fixed Income; Moore Japan Restructuring; Remington Investment Strategies; Valence Capital Management
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

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