Europe's Gay Leading Hedge Fund Mger to Suffer biggest Divorce Sttement

by Peter Lloyd   pinkpaper.com

One of Europe's leading hedge fund managers is expected to suffer the country's biggest divorce settlement after leaving his wife and family for a male partner.

Pierre Lagrange, who has an estimated wealth of £300m through running the firm GLG Partners, came out to his family last year.

He has since started a relationship with Mayfair fashion designer Roubi L'Roubi.

After receiving an MS degree in Business Engineering, Lagrange earned his wealth by working as a trader for JP Morgan and Goldman Sachs before co-founding GLG Partners in 1995.

Several years after the company went independent in 2000, it was bought by a rival for $1.6 billion.

But now his wife Catherine – a keen financial supporter of the Conservative Party – is expected to claim half of his fortune.

The case is being touted as having the potential to be Britain's biggest-ever divorce payout.

The move has re-ignited the debate about what is reasonable for partners in divorce payouts. Earlier this summer the wife of Boris Berezovsky, 64, had to pay his wife Galina a settlement estimated at more than £100m.

Belgian-born Lagrange told the Daily Mail: "My divorce reflects the reality of a separation that has happened a long time ago.

"Our divorce has been the most amicable one, with respect and love from all parties."

He also confirmed that he was in a relationship with L’Roubi but said he only met the designer "long after" he and his wife had decided to go their separate ways.