Greg Coffey’s Moore Capital hedge fund outperformed by his old GLG fund
| November 23rd, 2009 | ||
| GLG Partners’ Emerging Market Fund, which lost its star hedge fund manager Greg Coffey last year to Louis Bacon’s Moore Capital, outperformed Coffey’s current fund, Moore Emerging Markets Fund. Coffey resigned in April of 2008 in a highly publicized move. During the six-month notice period of his resignation, GLG investors withdrew over $1 billion from his fund. The Moore Emerging Markets Fund returned 17.41% through September 30th of this year. According to the Wall Street Journal, the fund’s performance last November and December after Coffey joined was a combined 1.9%. On the other hand, GLG’s emerging market fund has delivered 27.2% from last November through September. Coffey was quickly replaced in October of 2008 by Karim Abdel-Motall and Bart Turtelboom, former heads of emerging markets sales and trading at Morgan Stanley. | ||
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For Detailed Investor Profiles on these Investors, click below: |
GLG Partners |
Moore Capital Management |
Related People: Emmanuel Roman;
Related Entities: GLG Alpha Select Fund;
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings
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