Company Overview of GLG Partners, Inc.
GLG Partners Inc. is a privately owned hedge fund sponsor. The firm provides its services to in high net worth individuals and institutions. It manages separate client-focused equity and fixed income portfolios. The firm also manages investment funds for its clients. The firm invests in the public equity and fixed income across the globe. It also invests in alternative markets through options, futures, and convertibles. GLG Partners was founded in September 1995 and is based in New York City.
452 Fifth Avenue
New York, NY 10018-2706
Founded in 1995
Key Executives for GLG Partners, Inc.
Co-Chief Executive Officer
Co-Chief Executive Officer
Compensation as of Fiscal Year 2013.
GLG Partners, Inc. Key Developments
Richard Desmond Sues GLG Partners over Trade
Jan 7 14
Richard Desmond is suing a unit of Man Group over a derivative product he bought in 2007 which Desmond claims was too complex to understand. Desmond has brought the claim against Man's hedge fund arm GLG Partners after he lost nearly £20 million on a capital protected swap linked to the performance of a fund of hedge funds managed by GLG. The claim is linked to another lawsuit against the trade's counterparty, Credit Suisse, made by Desmond.
GLG Partners L.P. and GLG Partners, Inc. Agree to Pay Nearly $9 Million to Settle the SEC's Charges
Dec 13 13
GLG Partners L.P. and its former holding company GLG Partners Inc. agreed to pay nearly $9 million to settle the SEC's charges. SEC's order instituting settled administrative proceedings, the GLG firms managed the GLG Emerging Markets Special Assets 1 Fund. From November 2008 to November 2010, GLG's internal control failures caused the overvaluation of the fund's 25% private equity stake in an emerging market coal mining company. The overvaluation resulted in inflated fees to the GLG firms and the overstatement of assets under management in the holding company's filings with the SEC. According to the SEC's order, GLG's asset valuation policies required the valuation of the coal company's position to be determined monthly by an independent pricing committee. On a number of occasions, GLG employees received information calling into question the $425 million valuation for the coal company position. But there were inadequate policies and procedures to ensure that such relevant information was provided to the independent pricing committee in a timely manner or even at all. There was confusion among GLG's fund managers, middle-office accounting personnel, and senior management about who was responsible for elevating valuation issues to the independent pricing committee. The SEC's order finds that GLG Partners L.P. violated and GLG Partners Inc. caused violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Securities Exchange Act of 1934 and Rules 12b-20, 13a-1, 13a-11, and 13a-13. The order requires the firms to hire an independent consultant to recommend new policies and procedures for the valuation of assets and test the effectiveness of the policies and procedures after adoption. The order directs the firms to cease and desist from violating or causing violations of various provisions of the federal securities laws. The firms consented to the order without admitting or denying the charges. The SEC is establishing a Fair Fund to distribute money to harmed fund investors. The GLG firms agreed to pay disgorgement of $7,766,667, prejudgment interest of $437,679, and penalties totaling $750,000.
GLG Partners, Inc. Presents at KBW UK Day & European Financials Conference, Sep-17-2013 04:15 PM
Sep 13 13
GLG Partners, Inc. Presents at KBW UK Day & European Financials Conference, Sep-17-2013 04:15 PM. Venue: 7th Floor, One Broadgate, London EC2M 2QS, United Kingdom. Speakers: Christopher John Huggins, Executive Officer.
Similar Private Companies By Industry
Recent Private Companies Transactions
|No transactions available in the past 12 months.|