GLG shuts EM special sits hedge fund

GLG Partners has closed its emerging markets special situations fund less than a year after the exit of the firm’s EM co-heads. The strategy was down about 60% in 2012. A spokeswoman for UK-based Man Group, the parent of GLG, confirmed the fund’s closure but declined to provide further information. The GLG Emerging Markets Special Situations Fund had a focus on illiquid and private equity-style opportunities in emerging markets. Investors are said to have been subject to three-y…