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GLG Partners absorbs Pendragon Capital event-driven team

Alternative asset manager GLG Partners has announced that Kaveh Sheibani and Julian Harvey Wood, two of the founding partners of London-based event-driven manager Pendragon Capital, will be joining the firm.

GLG has also announced that it will take over the management of Pendragon's funds and accounts.

The appointment of Sheibani and Wood, and of GLG Partners, the New York-listed manager's London-based business, as investment manager of the Pendragon funds and accounts, are subject to the consent of Pendragon's investors, which GLG expects to receive before the end of March.

Before founding and managing Pendragon Capital with Gordon Lawson, Sheibani and Wood had worked together managing European proprietary trading in equities at Salomon Brothers (subsequently part of Citigroup). 

Prior to joining Salomon Brothers in 1994, Sheibani began his career as an equity analyst at Goldman Sachs. Wood worked as a chartered accountant and tax adviser at Arthur Anderson prior to joining Salomon Brothers in 1995.

Emmanuel Roman, co-chief executive of GLG, says: 'Kaveh and Julian are both highly experienced, event driven professionals and we expect that this team will greatly enhance and expand GLG's own event driven franchise.'

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