GLG Partners reports Q4 and full-year 2009 earnings

18 Feb 2010
GLG Partners, Inc. has reported a GAAP net loss attributable to common stockholders for the fourth quarter and full year ended December 31, 2009 of $75.3 million, or $0.33 per fully diluted share, and $319.0 million, or $1.45 per fully diluted share, respectively.

“We delivered strong performance for our investing clients, achieving dollar-weighted average returns of 28 percent across our alternative strategies while our long only assets returned more than 29 percent, significantly ahead of the relevant benchmarks,” said Noam Gottesman, Chairman and Co-CEO of GLG. “We strengthened our extensive multi-strategy platform in terms of product breadth and distribution and not only retained but also added to our base of key investment professionals despite 2009 being a transitional year for the industry. Encouragingly, AUM flows at GLG have turned definitively positive over the past six months and looking forward, I am confident that GLG remains well-positioned to be a leading beneficiary as industry flows expand.”

“We have an outstanding team of investment professionals underpinned by a rigorous approach to investment analysis and risk management,” commented Emmanuel Roman, Co-CEO. “Together with a robust infrastructure and a high level of transparency, we are well placed to accommodate the growing client interest in GLG and enjoy the benefits of operational leverage. It is confidence in our longer-term outlook that was the basis for our investments in our people and infrastructure throughout 2009. I am pleased we are already seeing positive results from these investments.”