Pierre Lagrange

Pierre Philippe Alexandre Lagrange (born March 1962) is a Belgian hedge fund manager, financier, and a co-founder of GLG Partners. His net worth is estimated at £500 million according to the Sunday Times.

Early life and education

Pierre Philippe Alexandre Lagrange was born in March 1962,[1] in Belgium.[2] He received a MS degree in Business Engineering (Ingénieur de Gestion) from the Solvay Brussels School of Economics and Management.[3]

Career

Lagrange worked for JP Morgan and Goldman Sachs before co-founding GLG Partners in 1995 with Noam Gottesman and Jonathan Green as a division of Lehman Brothers. The name of the company is composed of the first initials of each of the founder's last names.[4] GLG became independent in 2000 and went public in 2007 listing on the New York Stock Exchange.[5] In 2010, GLG Partners was purchased by the Man Group for US$1.6 billion forming the world's largest hedge fund.[5] The two remaining GLG founders Noam Gottesman and Pierre Lagrange - Greene had left the company prior to the Man Group purchase - each received a $200 million shareholding in the Man Group in return for a three-year promise to stay.[4]

Personal life

In September 2011, it was published that he will divorce of his wife Catherine Anspach with whom he has three children. The divorce settlement is expected to be the largest in British history estimated at more than £160 million or fifty percent of his estimated net worth. He is now living together with the London fashion designer Roubi L'Roubi.[6]

He owned the Grade II listed Woodperry House in Oxfordshire, before downsizing in 2006 to a country house in Hampshire.[7] In August 2011 he also reportedly sold a house at 17 Kensington Palace Gardens to the Russian-born billionaire Roman Abramovich, for £90 million.[8]

In 2008, Lagrange earned £400 million.[2] In 2009, the Sunday Times Rich List reported that his wealth declined £265 million to £195 million due to the credit crunch.[9] In September 2011, his wealth had rebounded to £300 million.[10]

References

  1. ↑ "GLG Partners Limited". Companies House. Retrieved 13 September 2015.
  2. 1 2 This Is Money: "Fund chiefs make £400m each from the crunch" By Robert Lea April 8, 2008
  3. ↑ Solvay Brussels School website: Pierre Lagrange: 'Star Belge de la City" retrieved September 10, 2012
  4. 1 2 The London Telegraph: "Man Group adds brawn to GLG's brain with $1.6bn takeover" By Helia Ebrahimi May 18, 2010
  5. 1 2 GLG Partners website: Our Approach retrieved September 10, 2012
  6. ↑ The London Telegraph: "Hedge fund boss faces £160m divorce settlement after leaving wife for male fashion designer" By Heidi Blake September 5, 2011
  7. ↑ Mikhailova, Anna (2009-09-20). "Reversal of fortune". London: Sunday Times. Retrieved 2010-05-02.
  8. ↑ Lawrence Hall, Abramovich be eyeing a Kensington Palace Gardens home?, Zoopla, 18 August 2011
    Ryan Kisiel, Chelsea FC boss Roman Abramovich buys £90m home on Britain's most expensive street, Daily Mail, 29 August 2011.
  9. ↑ "The Sunday Times Rich List" (fee required). The Times (London). 2011.
  10. ↑ The Independent: "Tycoon Pierre Lagrange comes out – to face UK's most expensive divorce payout" by Rob Hastings September 5, 2011
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