GLG Partners has shut down its emerging markets special situations fund as the firm reorganizes its emerging market portfolio management activities.
Asian Investor reported that the firm is aiming to combine its developed and emerging market offerings based on its view that the two strategies are becoming more integrated.
Karim Abdel-Motaal and Bart Turtelboom, the former co-heads of emerging markets at GLG left the firm in January after four years to set up their own emerging markets-focused hedge fund firm called APQ Partners. The firm’s developed and emerging market strategies are now overseen by Sudi Mariappa and Jamil Baz, who also head a macro and fixed-income group created as a result of the restructuring.
London-based GLG is a subsidiary of investment giant Man Group and has $24.5 billion in assets under management.