GLG Lands $3 Billion 130/30 Mandate

From: Daily News | Date: May 19, 2008| Author: Bill McIntosh, Senior Financial Correspondent | Copyright information

LONDON (HedgeWorld.com) - GLG Partners Inc., Europe's second- biggest hedge fund operator, has won a $3 billion mandate from the asset management division of Banca Fideuram, part of Italy's Intesa Sanpaolo Group, to manage three UCITS III 130/30 accounts.

The new funds, which are due to come on board late in the third quarter, will help bolster GLG's asset base at a time when the hedge fund manager could be losing assets from its emerging markets funds run by Greg Coffey, who is leavin...

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