Reuters- GLG Partners, one of Europe’s largest hedge funds, reported strong asset inflows on Wednesday and said prospects for future expansion remained bright. London-based GLG, which floated in New York last year, said net inflows during the three months to end-December were $2.9 billion and net assets under management at end-December were $24.6 billion, 20 percent up on end-September figures.
Net adjusted income on a non-GAAP basis rose 72 percent to $127.1 million for the fourth quarter. On a GAAP basis the net loss was $315.8 million, which takes into account share-based and other compensation in last year’s listing via a reverse takeover.
Performance fees rose 54 percent to $334.8 million in the fourth quarter on a year ago.
