Man Group has completed its purchase of GLG Partners, creating a diversified fund group running $63bn of assets.
Following completion of the takeover, GLG is now a wholly owned subsidiary of Man. Peter Clarke, Man's chief executive, says: "The acquisition is a significant milestone in Man's development. "Investors are now able to gain access to managed futures, equity, credit, emerging markets, global macro, across single manager funds, managed accounts, multi-manager portfolios and structured products." Clarke's rationale for the takeover of GLG - to complement Man's flagship quantitative fund AHL with GLG's discretionary management skills - has been vindicated this year as Man's shares have...
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