Mergers & Acquisitions / Joint Ventures

Man to buy GLG in “industry-changing” deal


Man Group and GLG Partners, two of the leading European-based alternative asset managers, are joining forces in a $1.6 billion merger that will create a new giant in the global hedge fund industry and could have profound implications for the industry’s future landscape at a time of far-reaching change in terms of regulation and investor requirements.

London-listed Man is buying New York-listed GLG through a combination of shares and cash in a takeover that will see GLG’s three key principals – co-founders Noam Gottesman and Pierre Lagrange, together with co-CEO Manny Roman – receiving shares in Man with