NEW YORK, March 13 /PRNewswire-FirstCall/ -- GLG Partners, Inc. ("GLG") (NYSE:GLG), a leading alternative asset manager, today announced that its subsidiary, GLG Partners LP, has signed a memorandum of understanding (MOU) with Origo Sino-India plc ("Origo") (LSE:OSI), an investment and strategic consulting company focused on the private equity markets of China and India. Under the MOU, the parties will explore the development of a broader strategic relationship focused on asset management and advisory opportunities in China, India and other emerging markets. The parties have also entered into an agreement whereby Origo has agreed to provide GLG with research services for a period of three years for a fee of GBP3 million that will include analysis, evaluation and generation of investment opportunities in the Chinese and Indian markets.
"We are delighted to have established this strategic relationship with Origo which we believe presents a unique opportunity to extend our emerging markets product line and capabilities. We look forward to working with Origo's outstanding team of investment professionals, nearly all of whom are on the ground in China and India," said Noam Gottesman, Chairman and co-Chief Executive Officer of GLG.
In addition, investment funds managed by GLG have agreed to invest approximately GBP17.1 million in Origo through the placement of new Origo ordinary shares. Following completion of the placement, funds managed by GLG, will own approximately 29.6% of the outstanding share capital of Origo.
"Origo owns an interesting portfolio of proprietary investments primarily in China and India and has an exciting pipeline of investment opportunities in these markets", said Greg Coffey, a Senior Managing Director of GLG.
GLG's funds also own investments in Origo Resource Partners Ltd., an investment fund to which Origo is a consultant.
Forward Looking Statements This press release contains statements relating to future results that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: market conditions for GLG managed investment funds; performance of GLG managed investment funds, the related performance fees and the associated impacts on revenues, net income, cash flows and fund inflows/outflows; the cost of retaining GLG's key investment and other personnel or the loss of such key personnel; risks associated with the expansion of GLG's business in size and geographically; operational risk; litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on GLG's resources; risks related to the use of leverage, the use of derivatives, interest rates and currency fluctuations; as well as other risks and uncertainties, including those set forth in GLG's filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and GLG undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
About GLG GLG, one of the largest alternative asset managers in the world, offers its base of long-standing prestigious clients a diverse range of investment products and account management services. GLG's focus is on preserving client's capital and achieving consistent, superior absolute returns with low volatility and low correlations to both the equity and fixed income markets. Since its inception in 1995, GLG has built on the roots of its founders in the private wealth management industry to develop into one of the world's largest and most recognized alternative investment managers, while maintaining its tradition of client-focused product development and customer service. As of December 31, 2007, GLG managed net AUM of over US$24.0 billion.
Contacts Media:
Finsbury:
Rupert Younger/Amanda Lee
+44-(0)20-7251-3801
Andy Merrill
+1-212-303-7600
Investors/analysts: GLG:
Simon White
Chief Financial Officer
+44-(0)20-7016-7000
Michael Hodes
Acting Director of Investor Relations
+1-212-224-7223
DATASOURCE: GLG Partners (GLG) CONTACT: Contacts: Media: Finsbury: Rupert Younger/Amanda Lee, +44-(0)20-7251-3801, , .
Andy Merrill, +1-212-303-7600, . Investors/analysts: GLG: Simon White, Chief Financial Officer, +44-(0)20-7016-7000, . Michael Hodes, Acting Director of Investor Relations, +1-212-224-7223,
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