Exhibit 99.1

GLG COMPLETES PRIVATE OFFERING OF $214 MILLION OF
CONVERTIBLE SUBORDINATED NOTES

New York, May 15, 2009 – GLG Partners, Inc. (“GLG”) (NYSE: GLG), the U.S.-listed asset manager, announced today that it completed its private offering of $214 million aggregate principal amount of its dollar-denominated convertible subordinated notes due 2014. The notes bear interest at a rate of 5.00% per year and rank junior in right of payment to all of GLG’s existing and future senior indebtedness.

Noam Gottesman, Chairman and co-CEO of GLG, Emmanuel Roman, co-CEO, and Pierre Lagrange, Senior Managing Director of GLG Partners L.P., each a director of GLG, purchased collectively $30 million aggregate principal amount of the notes from the initial purchasers as part of this offering, through certain of their affiliates.

The notes are convertible, at the option of the holder, into shares of GLG’s common stock at an initial conversion rate of 268.8172 shares per $1,000 principal amount of notes, subject to certain adjustments. The initial conversion rate is equivalent to a conversion price of approximately $3.72 per share.

GLG used a portion of the net proceeds from the offering of the notes to acquire a portion of the indebtedness outstanding under GLG’s credit agreement in a transaction that closed concurrently with the closing of the note offering. Approximately $285 million of $570 million principal amount of loans outstanding under the credit facility were acquired at 60% of par value. Any proceeds not used to acquire its outstanding indebtedness will be used by GLG for general corporate purposes to the extent permitted under the credit agreement.

These securities have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state in which such offer, solicitation or sale would be unlawful.

— ENDS —

Forward-looking Statements

This press release contains statements relating to future results that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Words such as “will” and other statements that are not statements of historical fact are intended to identify 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: the volatility in the financial markets; GLG’s financial performance; 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, including counterparty 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, investment in derivatives, availability of credit, interest rates and currency fluctuations; as well as other risks and uncertainties, including those set forth in GLG’s filings with the Securities and Exchange Commission. 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, except as required by law.

Contacts:
Investors/analysts:
GLG:	Jeffrey Rojek
	Chief Financial Officer
	+1 212 224 7245
	jeffrey.rojek@glgpartners.com
	Michael Hodes
	Director of Public Markets
	+1 212 224 7223
	michael.hodes@glgpartners.com
Media:
Finsbury:	Rupert Younger / Talia Druker
	+44 (0)20 7251 3801
	glg@finsbury.com
	Andy Merrill / Stephanie Linehan
	+ 1 212 303 7600
	glg@finsbury.com

SOURCE: GLG Partners, Inc.