Hedge Funds

Velimukhametova rolls out distressed fund for GLG

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GLG, the $19 billion New York-listed and London-based alternative asset manager, has rolled out a dedicated European distressed fund 15 months after hiring portfolio manager Galia Velimukhametova from King Street Capital.

The GLG European Distressed Fund started as a standalone fund in September, having previously been traded as a portfolio within the GLG Market Neutral fund - generating a gross return of 79% from July 2008 to the end of August this year.

Velimukhametova has 15 years of experience managing European distressed debt and credit portfolios. At King Street she was a managing director and a member of the investment