GLG Partners completes SGAM acquisition

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US-based hedge fund manager GLG Partners has completed the acquisition of Société Générale Asset Management UK, the French bank's UK long-only business in a US$6.7m (£4.5m) deal.

The two firms announced in December that SocGen would sell its equity holdings in SGAM UK, which manages US$8.2bn in retail and institutional assets, to GLG. It is understood that officials at GL...

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