GLG Partners says exposure to Lehman is less than 1% of assets
Shares of GLG Partners, Inc. (NYSE:GLG) are edging higher after the publicly owned hedge fund sponsor said that its exposure to Lehman Brothers was minimal. In total, GLG estimates that the combined direct exposure of its funds will be approximately $95 million, or less than 1% of its net assets under management.
Shares gained 3%, or $0.16, to $5.50 in late morning trading. For detailed price information and news stories on GLG Partners, click GLG.
About the Author
Reporter Jennifer Schonberger is based in SmallCapInvestor.com's Washington, D.C. bureau.
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