Business & Finance
Business and Finance
Business and Finance 
Fri, January 2, 2009
Thu, January 1, 2009
Wed, December 31, 2008
Tue, December 30, 2008
GLG Partners Announces Dividend Decision
NEW YORK--([ BUSINESS WIRE ])--GLG Partners, Inc. (NYSE: GLG), a leading alternative asset manager, announced today that its Board of Directors has determined not to continue paying a regular quarterly dividend on its common stock.
Noam Gottesman, Chairman and Co-CEO commented, "We have decided at this time that it is prudent to retain capital rather than continue paying a regular quarterly dividend. We see tremendous value in the added flexibility of retaining cash in the current environment. Furthermore, we recently announced an agreement to acquire Société Générale Asset Management UK and will continue to seek similar opportunities for us to grow and broaden our business as we move into 2009."
The Board of Directors of GLG will consider re-establishing the regular quarterly dividend as well as the payment of a special dividend as and when it determines appropriate in the future.
About GLG
GLG, one of the largest alternative asset managers in the world, offers its base of long-standing prestigious clients a diverse range of investment products and account management services. GLG's focus is on preserving client's capital and achieving consistent, superior absolute returns with low volatility and low correlations to both the equity and fixed income markets. Since its inception in 1995, GLG has built on the roots of its founders in the private wealth management industry to develop into one of the world's largest and most recognized alternative investment managers, while maintaining its tradition of client-focused product development and customer service.
As of September 30, 2008, GLG managed net AUM of over $17 billion.