GLG principals set to increase investment in funds


The principals of GLG Partners are preparing to pump more money into their hedge funds as they move closer to listing on the New York Stock Exchange. That listing is set to happen in November through a reverse takeover with shell company Freedom Acquisition Holdings.

Once the acquisition is completed, the UK-based firm’s principals, trustees and certain key personnel will have around $715 million invested in GLG’s funds. These parties had approximately $105 million invested at the end of September.

Freedom shareholders will vote on the reverse takeover on October 31. For the acquisition to be approved, holders of the