Man Group has completed the acquisition of GLG, creating an alternative asset manager with around $63bn (€44.6bn) in assets under management.
In a press release announcing the completion of the purchase, Man said GLG’s products, which span a broad range of strategies from equity to global macro, offer both interesting investment opportunities on a standalone basis as well as complementing Man’s existing range.
Peter Clarke, chief executive of Man, said: “The acquisition of GLG is a significant milestone in Man’s development. Investors are now able to gain access to managed futures, equity, credit, emerging markets, global macro, across single manager funds, managed accounts, multi-manager portfolios and structured products, all managed by Man’s experienced investment professionals. This builds on our commitment to providing investors with strong risk-adjusted performance that can add diversification benefits to an investment portfolio.
“Our priority now is to maintain focus on delivering outstanding investment performance. We are convinced that the combined strengths of Man and GLG will provide compelling investment opportunities for our clients going forward and look forward to introducing GLG’s exceptional investment management capabilities to a broader global market.”
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