NEW YORK, March 13 /PRNewswire/ -- 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
rupert.younger@finsbury.com
amanda.lee@finsbury.com
Andy Merrill
+1-212-303-7600
andy.merrill@finsbury.com
Investors/analysts:
GLG:
Simon White
Chief Financial Officer
+44-(0)20-7016-7000
simon.white@glgpartners.com
Michael Hodes
Acting Director of Investor Relations
+1-212-224-7223
michael.hodes@glgpartners.com
GLG Partners (GLG)
