GLG Partners Halts Withdrawals

Author:
Updated:
Original:

These are getting boring to report, frankly. GLG partners joins the leagues of hedge funds exercising their withdraw restrictions.

GLG Partners Inc. said it will suspend redemptions from two of its hedge funds because of ``adverse economic'' conditions after they lost about a third of their value this year. GLG will stop investors from making withdrawals from the GLG Market Neutral Fund and GLG Credit Fund, it said in a statement today. The Credit Fund dropped 35 percent and Market Neutral 29 percent through Sept. 30, and they suffered further losses in October as convertible bonds and loans slumped.

Yawn.
GLG Freezes 2 Hedge Funds That Lost Third of Value [Bloomberg]

Related

GLG Partners' Reverse-Merger With Man Group Completed

GLG Partners has completed its takeover of the Man Group from within, two years after Man paid $1.6 billion for the pleasure of sinking into irrelevance.

The GLG-ification of Man Group Is Nearly Complete

It sure was clever of GLG Partners' to get Man Group to pay $1.6 billion for the pleasure of being conquered from within.

weinstein

Baupost, GLG, Highbridge Outed As Weinstein Investors

And, since they were outed in a bankruptcy filing, also Weinstein losers.