Pierre Philippe Alexandre Lagrange (born 15 March 1962) is a Belgian economist,

hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...

manager, financier, and a co-founder of

GLG Partners ''Man GLG'' (formerly GLG Partners) is a discretionary investment manager and a wholly owned subsidiary of British alternative investment manager Man Group plc. It is a diversified and multi-strategy fund manager that operates strategies includin ...

. His net worth is estimated at £500 million according to ''

The Sunday Times ''The Sunday Times'' is a British newspaper whose circulation makes it the largest in Britain's quality press market category. It was founded in 1821 as ''The New Observer''. It is published by Times Newspapers Ltd, a subsidiary of News UK, whi ...

''.

Early life and education

Lagrange was born in March 1962 in

Belgium Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...

. He received both BS and MS degrees in Economics (Business engineering, Ingénieur de gestion) from the

Solvay Brussels School of Economics and Management The Solvay Brussels School of Economics and Management (abbreviated as SBS-EM and also known as simply Solvay) is a school of economics and management and a Faculty of the Université libre de Bruxelles, a French-speaking private research univ ...

Career

Lagrange worked for JP Morgan and

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

before co-founding GLG Partners in 1995 with Noam Gottesman and Jonathan Green as a division of

Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before Bankruptcy of Lehman Brothers, filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Gol ...

. The name of the company is composed of the first initials of each of the founder's last names.The London Telegraph: "Man Group adds brawn to GLG's brain with $1.6bn takeover" By Helia Ebrahimi
May 18, 2010 GLG became independent in 2000 and went public in 2007 listing on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

.GLG Partners website: Our Approach
retrieved September 10, 2012 In 2010, GLG Partners was purchased by the

Man Group Man Group plc is an active investment management business listed on the London Stock Exchange. It provides a range of funds across liquid and private markets for institutional and private investors globally and is the world's largest publicly tr ...

for US$1.6 billion. The two remaining GLG founders Noam Gottesman and Pierre Lagrange–Greene had left the company prior to the Man Group purchase–each received a $200 million shareholding in the Man Group in return for a three-year promise to stay.

Personal life

In 2009, the

Sunday Times Rich List The ''Sunday Times Rich List'' is a list of the 1,000 wealthiest people or families resident in the United Kingdom ranked by net wealth. The list is updated annually in April and published as a magazine supplement by British national Sunday news ...

reported that his wealth declined £265 million to £195 million due to the credit crunch. In September 2011, his wealth had rebounded to £300 million. In September 2011, he and his wife Catherine Anspach, with whom he has three children, announced their divorce. The divorce settlement was estimated at more than £160 million. Pierre lives with his husband Ebs Burnough between Monaco, London, Hampshire and New York. In November 2011, Lagrange sued the Knoedler gallery, New York, for selling him a fake

Jackson Pollock Paul Jackson Pollock (; January 28, 1912August 11, 1956) was an American painter and a major figure in the abstract expressionist movement. He was widely noticed for his " drip technique" of pouring or splashing liquid household paint onto a hor ...

painting. He owned the Grade II listed Woodperry House in

Oxfordshire Oxfordshire is a ceremonial and non-metropolitan county in the north west of South East England. It is a mainly rural county, with its largest settlement being the city of Oxford. The county is a centre of research and development, primarily ...

, before downsizing in 2006 to a country house in

Hampshire Hampshire (, ; abbreviated to Hants) is a ceremonial county, ceremonial and non-metropolitan county, non-metropolitan counties of England, county in western South East England on the coast of the English Channel. Home to two major English citi ...

. In August 2011 he also reportedly sold a house at 17

Kensington Palace Gardens Kensington Palace Gardens is an exclusive street in Kensington, west of central London, near Kensington Gardens and Kensington Palace. Entered through gates at either end and guarded by sentry boxes, it was the location of the London Cage, th ...

to the Russian-born billionaire Roman Abramovich, for £90 million. Lagrange spoke of his opposition to

Brexit Brexit (; a portmanteau of "British exit") was the withdrawal of the United Kingdom (UK) from the European Union (EU) at 23:00 GMT on 31 January 2020 (00:00 1 February 2020 CET).The UK also left the European Atomic Energy Community (EAEC or ...

in a 2019 interview with the ''

Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...

,'' characterising the 2016 vote as a "

red herring A red herring is a figurative expression referring to a logical fallacy in which a clue or piece of information is or is intended to be misleading, or distracting from the actual question. Red herring may also refer to: Animals * Red herring (fis ...

" compared to wider problems facing the UK.

References

{{DEFAULTSORT:Lagrange, Pierre 1962 births Belgian bankers Vrije Universiteit Brussel alumni Living people Belgian hedge fund managers Belgian investors Belgian financiers