GLG Partners, a publicly-traded hedge fund manager, has hired Driss Ben-Brahim as the new manager of its emerging markets fund. Ben-Brahim is a former partner at Goldman Sachs.
Ben-Brahim will oversee GLG's $1.2 billion Emerging Markets Special Situations Fund. He replaces former manager Greg Coffey, GLG said. Coffey, according to press reports, turned down $248 million in pay and bonuses in order to start up his own hedge fund.
In addition to managing the emerging markets fund, GLG said that Ben-Brahim would be responsible for developing a series of thematic funds designed for the needs of sovereign wealth funds. Prior to joining GLG, he was a partner at Goldman running its emerging markets trading business.
GLG manages net assets of more than $24 billion for high-net-worth individuals and institutions, according to the company.
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