GLG uses Finsbury for Coffey exit

David Quainton 08-May-08

Europe's largest hedge fund, GLG Partners, is using Finsbury as it deals with the exit of its largest fund manager, Greg Coffey.

Coffey's departure prompted stories the firm's investors could withdraw billions of dollars.

Coffey hired his own support for his high-profile exit - he controls £3.5bn of GLG's funds under management - turning to Tulchan.

Despite the fact GLG are almost certain to push for a strong non-compete agreement upon Coffey's exit, some analysts suggest the move could lead to top investors removing more than £2bn in the next year.

It is still unclear what the 36-year-old Australian plans to do after leaving GLG.

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