Hedge Funds Performance

GLG not hurt by shareholder Lehman’s collapse


GLG, Europe’s largest hedge fund group and one in which Lehman Brothers owns a stake of around 14%, said that it was not materially exposed to the U.S. investment bank’s failure.

Lehman is a major shareholder in the New York-listed firm, originally taking a 20% stake in GLG at its launch in 2001 and still owning, after some dilution at the time of the IPO last year, some 33.7 million shares via the Cayman-incorporated Lehman (Cayman Islands) Ltd entity.

The shareholding is subject to a lockup, and none of the shares may be sold until November 2 this year. After