Man Group to transfer £220m Lehman exposure from GLG

clock

Man Group is to acquire the remaining exposure to the estates of bankrupt US investment giant Lehman Brothers from funds managed by its institutional asset management subsidiary, GLG Partners, for $355m (£221m) in cash.

The transactions - valued at current NAV - "will remove the remaining uncertainty from funds with residual claims against the Lehman estates to the benefit of both existing and new investors," Man ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Fall in services output drags UK economy down by 0.3% in April

Fall in services output drags UK economy down by 0.3% in April

Following 0.2% growth in March

Sorin Dojan
clock 12 June 2025 • 2 min read
PASA selects Isio as expert partner for de-risking journey management

PASA selects Isio as expert partner for de-risking journey management

Isio becomes chair of PASA’s newly established de-risking journey management working group

Holly Roach
clock 11 June 2025 • 1 min read
Trustees urged to take 'more active' role in sustainability and member outcomes

Trustees urged to take 'more active' role in sustainability and member outcomes

Zedra says trustees should ‘use their voice’ during buyout discussions with insurers

Martin Richmond
clock 11 June 2025 • 1 min read
Trustpilot