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PRINT THIS PAGE GLG awarded $3bn asset management mandate from Banca Fideuram23/05/2008. Source: AltAssets.
European alternative asset manager GLG Partners has been awarded a $3bn mandate from the asset management division of Italian private bank Banca Fideuram, part of the Intesa Sanpaolo Group. Under the terms of the mandate, GLG will manage three UCITS III 130/30 accounts, and the asset management division of Banca Fideuram will provide retail investors access to hedge fund-like flexibility within the EU regulatory framework in terms of liquidity, use of leverage and derivatives, according to a statement.
Noam Gottesman, chairman and co-CEO, GLG, said, 'We have had a close relationship with Banca Fideuram, which currently has $250m invested with GLG. We are delighted to have this unique opportunity to further expand and strengthen our partnership with the Bank and its networks as they seek to broaden their asset management product offering.'
GLG has offices in London and New York. The firm manages assets totalling over $24bn, across a number of strategies and products.
Copyright © 2008 AltAssets
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