GLG Partners says outflows seem to have bottomed, psychology changing

By Jennifer Lanning Drey

Portland, Ore., June 4 - GLG Partners, Inc.'s chief financial officer said Thursday that outflows at the alternative asset management firm appear to have bottomed, signaling a change in the way institutions and high-net-worth individuals are allocating capital as markets become more stable.

"The psychology of our clients has stabilized, and I think it's starting to trend up," Jeffrey Rojek, GLG's chief financial officer, said during a presentation at the KBW Diversified Financial Services Conference in New York.

Rojek said he believes flows will turn positive for the industry as a whole over the next three to six months, although no floodgates will open.

GLG reported $50 million of net inflows in the first quarter.

During the presentation, Rojek also noted that as conditions improve, GLG hopes to grow both organically and through acquisitions. The firm believes valuations of asset managers are very attractive, which has compelled it to consider an acquisition strategy, he said.

GLG is a London-based alternative asset manager.

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