Hedge funds: It’s not only about the money

Star performers are not motivated solely by the chance to earn yet more, as the pending departure of Greg Coffey from GLG to start his own business shows. Neil Wilson reports.

In association with Hedge Fund Intelligence

In European hedge fund circles, a big talking point recently has been the decision of Greg Coffey – one of the industry’s star performers of the past two years – to resign suddenly from GLG Partners, the London-based and New York-listed hedge fund group.

The move appeared to take quite a lot of people by surprise, including not least GLG co-founder and co-CEO Noam Gottesman, who frankly admitted during a conference call with investors: “It never occurred to me that a few hundred million dollars would be an insufficient sum to retain someone.

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