Business & Finance
Business and Finance
Business and Finance
Tue, January 20, 2009 GLG Partners Adds Event Driven Team
NEW YORK--([ BUSINESS WIRE ])--GLG Partners, Inc. ("GLG") (NYSE: GLG), a leading alternative asset manager, announced today that Kaveh Sheibani and Julian Harvey Wood, two of the founding partners of Pendragon Capital, will be joining the firm to focus on event driven strategies. Pendragon Capital is a London based event driven fund manager established in 1999.
In addition, GLG Partners LP will become the investment manager of the funds and accounts managed by Pendragon Capital. Kaveh and Julian's start date with GLG, and the appointment of GLG Partners LP as investment manager of the Pendragon funds and accounts, are subject to the consent of Pendragon's investors, which we anticipate will be obtained prior to the end of the first quarter of 2009.
The Pendragon leadership is long standing and highly regarded in the event driven space in Europe. Before founding and managing Pendragon Capital with Gordon Lawson, Kaveh and Julian had worked together managing European proprietary trading in equities at Salomon Brothers (subsequently Citigroup).
Prior to joining Salomon Brothers in 1994, Kaveh received an MBA from INSEAD and began his career as an Equity analyst at Goldman Sachs. Julian has a First Class Honours degree in Mathematics from Oxford University and worked as a Chartered Accountant and Tax Advisor at Arthur Anderson prior to joining Salomon Brothers in 1995.
Emmanuel Roman, Co-CEO of GLG commented, "Kaveh and Julian are both highly experienced, event driven professionals and we expect that this team will greatly enhance and expand GLG's own event driven franchise."
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.
