Full Description

GLG Partners, Inc. (GLG), incorporated on June 8, 2006, is an independent alternative asset manager. The Company offers a diverse range of investment products and account management services. GLG manages global investment funds and accounts. GLG derives its revenues from management fees and administration fees based on the value of the assets in the funds and accounts it manages, referred to as the GLG Funds, and performance fees based on the performance of those investment funds and accounts. The Company manages a portfolio of over 40 funds, consisting both alternative and long-only strategies. On January 24, 2008, the Company acquired GLG Inc. In April 2009, the Company acquired Societe Generale Asset Management UK (SGAM UK), Societe Generale's United Kingdom long-only asset management business.

As of December 31, 2008, it had five categories of products, which included single-manager alternative strategy funds, long-only funds, funds of GLG funds (internal fund of hedge funds (FoHF), multi-manager funds and managed accounts. Single-manager alternative strategy funds represent the Company’s core investment product and are the primary means by which investors gain exposure to its core alternative investment strategies. As of December 31, 2008, this category comprised 20 individual funds, each being managed according to distinct investment strategies, including equity long-short funds, mixed-asset long-short funds, multi-strategy arbitrage funds, convertible bond funds, macro funds and credit long-short funds and may be characterized by the use of leverage, short positions and/or derivatives. The largest funds in this category are the GLG European Long-Short Fund, the GLG Market Neutral Core Fund, the GLG Alpha Select Fund, the GLG Emerging Markets Special Situation Fund and the GLG North American Opportunity Fund. These funds may also make use of fund-in-fund investments whereby one single-manager alternative strategy fund may hold exposure to another single-manager alternative strategy fund.

The long-only funds facilitate access to its market insight and performance for those clients who are seeking full (non-hedged) exposure to the equity markets across geographic and sector-based strategies. As of December 31, 2008, it operated 18 long-only funds. The largest funds in this category are the GLG European Equity Fund, the GLG Performance Fund and the GLG Global Convertible UCITS Fund.

Funds of GLG funds (internal FoHF) are structured to provide investment exposure across its range of single-manager alternative strategy funds, as well as being a means, by which investors may gain exposure to funds that are not being marketed. It has three internal FoHF funds. The largest funds in this category are the GLG Global Opportunity Fund and the GLG Multi Strategy Fund. The multi-manager funds represent its external FoHF offering. These funds are invested into funds managed by external asset management businesses (and, in one case, a GLG Fund). The largest funds in this category are the GLG MMI Diversified Fund and the GLG MMI Enhanced Fund. Managed accounts offer managed account solutions to larger institutional clients who want exposure to its investment strategies.