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GLG raises USD 100 million for Japanese long/short fund


GLG Partners, the London-based manager with USD12.5 billion assets, has raised USD100 million for its first hedge fund investing in equities in Japan.


According to a company statement, Henk Jonker and Kenji Arakawa will run the GLG Japanese Long-Short Fund in London.


Jonker and Kenji previously invested in Japanese equities to hedge GLG's convertible bond holdings. The money manager said it would consider closing the fund when assets reach USD 500 million.


GLG, which was set up as a division of Lehman Brothers in 1995 and became independent in 2000, was reported to be in discussions with the US securities firm last month, for a possible sale.


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