Revenue at GLG Partners broached $1bn (€680m) last year, 68% more than in 2006, after the UK-based and US-listed hedge fund manager increased its net assets under management by 62% over the year.

Net assets under management grew from $15.2bn at the start of last year to $24.6bn at the end. Noam Gottesman, co-founder, chairman and co-chief executive of GLG, said the net inflows were a record for the firm. He added: "The prospects for future expansion remain bright and we are on track with our US plans having registered our US subsidiary, GLG Inc, with the Securities and Exchange Commission as an investment adviser in January 2008.”