Pierre Lagrange
Pierre Lagrange | |
|---|---|
| Born | March 15, 1962 Belgium |
| Occupation(s) | Economist, financier, hedge fund manager |
| Known for | Co-founder of GLG Partners |
Pierre Philippe Alexandre Lagrange (born 15 March 1962) is a Belgian economist, financier, hedge fund manager, and co-founder of GLG Partners. His net worth has been valued at approximately £500 million according to The Sunday Times.
Early life and education
Born in Belgium in March 1962, Lagrange obtained both his Bachelor’s and Master’s degrees in Economics (Business Engineering, Ingénieur de gestion) from the Solvay Brussels School of Economics and Management.
Career
Before establishing GLG Partners in 1995 alongside Noam Gottesman and Jonathan Green as a subsidiary of Lehman Brothers, Lagrange gained experience at JP Morgan and Goldman Sachs. The firm's name, GLG, is derived from the initials of its founders. GLG became an independent entity in 2000 and subsequently launched an initial public offering on the New York Stock Exchange in 2007. In 2010, the Man Group acquired GLG Partners for US$1.6 billion. Although Lagrange and Gottesman had exited the company prior to this acquisition, they each retained a $200 million stake in Man Group with an agreement to remain involved for three years.
In 2013, Lagrange diversified into the luxury retail sector by purchasing the Savile Row tailoring house Huntsman.
Personal life
Lagrange’s financial standing experienced volatility during the financial crisis, declining to £195 million in 2009 before recovering to £300 million by 2011. In September 2011, he finalized a divorce from his wife Catherine Anspach, with whom he has three sons; their settlement was estimated to exceed £160 million. He later married Ebs Burnough in 2019. The couple divides their time among residences in Monaco, London, Hampshire, and New York. Their fourth child was born in 2020.
In 2011, Lagrange initiated legal action against the Knoedler gallery in New York concerning a forged painting attributed to Jackson Pollock.
He formerly owned Woodperry House in Oxfordshire but relocated to a smaller property in Hampshire in 2006. Additionally, in 2011 he reportedly sold a property on Kensington Palace Gardens to billionaire Roman Abramovich for £90 million.
Lagrange publicly expressed his opposition to Brexit during a 2019 interview with the Financial Times, characterizing the 2016 referendum as a "red herring" relative to more significant challenges facing the UK.