NEW YORK Lehman Brothers last week spun off GLG Partners, its London-based alternative investment management unit, making it an independent entity.
The move was prompted by Lehman managements conclusion that GLG, with $8 billion under management, no longer needed a parent.
The firm, which employs 75 people, offers nine investment funds including the GLG Opportunity Fund, a global macro hedge fund that invests in all asset classes including bonds, equities, and currencies. All the funds are currently closed to new investors.
