Money managers under the microscope
In our investor profile of GLG’s Pierre Lagrange, we highlight two very different sides of London’s hedge fund industry and a potential culture clash in Man Group’s surprise takeover of GLG this month.
In many ways, Lagrange symbolises the informal, star manager culture that GLG has based its growth on (although also suffered from after Greg Coffey’s departure and Philippe Jabre’s FSA fine).
Being neighbours with Lakshmi Mittal, and a backer of both comic book action film Kick Ass and a modern art gallery, the long-haired Belgian may find being part of Man Group something of a culture shock.
Man is dominated by its black box AHL fund and has always avoided the star manager culture in its multi-manager unit.