GLG Partners Halts Withdrawals - Dealbreaker

GLG Partners Halts Withdrawals


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.

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