GLG Partners Completes Reverse Acquisition Transaction with Freedom Acquisition Holdings



    
    Common Stock of GLG Partners to Transfer to the New York Stock Exchange
and
    Begin Trading Under the Ticker Symbol "GLG"
    

    NEW YORK, Nov. 2 /CNW/ -- GLG Partners, LP ("GLG"), a leading alternative
asset manager, announced today that it has completed its reverse acquisition
transaction with Freedom Acquisition Holdings, Inc. ("Freedom"), which was
previously announced on June 25, 2007.   The transaction was approved by the
shareholders of Freedom on October 31, 2007.  Effective upon the completion of
the transaction, Freedom changed its name to GLG Partners, Inc.  On November
5, 2007, the common stock, warrants and units of GLG Partners, Inc. will
transfer from the American Stock Exchange to the New York Stock Exchange and
begin trading under the symbols GLG, GLG WS and GLG.U, respectively.
    Commenting on the completion of the transaction, Noam Gottesman, Chairman
and Co-CEO of GLG Partners, Inc., said "Completion of this transaction is an
important step in building GLG's global business and affords us the
opportunity to increase brand awareness and expand in major targeted markets,
including the US, Middle East and Asia.  Accessing the public markets allows
GLG to take full advantage of our highly scalable infrastructure as well as
our growth and track record of success to expand our client relationships and
distribution capabilities.  We now have a publicly traded equity currency on
the New York Stock Exchange which we can use to compete for, retain and
incentivize the most talented and sought after professionals in our industry."
    
    About GLG
    
    GLG, the largest independent alternative asset manager in Europe and one
of the largest in the world, offers its base of long-standing prestigious
clients a diverse range of investment products and account management
services. GLG's focus is on preserving client's capital and achieving
consistent, superior absolute returns with low volatility and low correlations
to both the equity and fixed income markets. Since its inception in 1995, GLG
has built on the roots of its founders in the private wealth management
industry to develop into one of the world's largest and most recognized
alternative investment managers, while maintaining its tradition of
client-focused product development and customer service. As of September 30,
2007, GLG managed gross AUM of over $23 billion.
    
    About Freedom
    
    Freedom is a blank check company incorporated in Delaware in 2006 to
effect a merger, stock exchange, asset acquisition, reorganization or similar
business combination with an operating business or businesses which it
believes has significant growth potential. Freedom consummated its initial
public offering on December 28, 2006.
    
    Forward-looking Statements
    
    This press release contains statements relating to future results that
are forward-looking statements. Actual results may differ materially from
those projected as a result of certain risks and uncertainties. These risks
and uncertainties include, but are not limited to: market conditions for GLG
managed investment funds; performance of GLG managed investment funds, the
related performance fees and the associated impacts on revenues, net income,
cash flows and fund inflows/outflows; the cost of retaining GLG's key
investment and other personnel or the loss of such key personnel; risks
associated with the expansion of GLG's business in size and geographically;
operational risk; litigation and regulatory enforcement risks, including the
diversion of management time and attention and the additional costs and
demands on GLG's resources; risks related to the use of leverage, the use of
derivatives, interest rates and currency fluctuations; costs related to the
proposed acquisition, as well as other risks and uncertainties, including
those set forth in the definitive proxy statement filed by Freedom with the
Securities and Exchange Commission on October 11, 2007. These forward-looking
statements are made only as of the date hereof, and GLG undertakes no
obligation to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.




For further information:

For further information: Investors-analysts, Simon White, Chief
Financial  Officer, +44 (0)20 7016 7000, simon.white@glgpartners.com, or
Michael Hodes,  Acting Director of Investor Relations, +1-212-224-7223, 
michael.hodes@glgpartners.com, both of GLG; or Media, Rupert Younger, 
rupert.younger@finsbury.com or Amanda Lee, amanda.lee@finsbury.com, +44  (0)20
7251 3801, or Andy Merrill, +1-212-303-7600, andy.merrill@finsbury.com,  all
of Finsbury, for GLG

Organization Profile

GLG PARTNERS, LP

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FREEDOM ACQUISITION HOLDINGS, INC.

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