Bain-led consortium strikes deal for Australia’s Accolade Wines

Man Group, the world’s largest publicly listed hedge fund, is retiring the GLG brand and merging some of the firm’s teams as it advances into credit markets, in the first big changes made by its new chief executive Robyn Grew.

The firm is dropping the brand, one of the best known in the industry, and creating a discretionary investing division that will include staff from other teams. Discretionary investing involves managers using their expertise in markets to buy and sell assets selected to make money for investors.

GLG manages about $28.6bn in assets, according to figures updated last September, and offers investors long-only and hedge fund-style strategies in equity, bonds and other assets in markets around the world.

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