Edgar Filing: Lagrange Pierre

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Lagrange Pierre

2. Issuer Name and Ticker or Trading Symbol
GLG Partners, Inc. [GLG]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	__X__ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Sr Mng Dir of GLG Partners LP

(Last)

(First)

(Middle)

GLG PARTNERS, INC., 399 PARK AVENUE, 38TH FLOOR

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2009

(Street)

NEW YORK, NY 10022

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/26/2009		S		560 ⁽¹⁾	D	⁽²⁾	397,740 ⁽⁸⁾	I	by GLG Partners LP, as investment manager ⁽⁹⁾
Common Stock	02/26/2009		S		40 ⁽¹⁾	D	⁽³⁾	397,700 ⁽⁸⁾	I	by GLG Partners LP, as investment manager ⁽⁹⁾
Common Stock	02/26/2009		S		2,500 ⁽¹⁾	D	⁽⁴⁾	395,200 ⁽⁸⁾	I	by GLG Partners LP, as investment manager ⁽⁹⁾
Common Stock	02/26/2009		S		1,500 ⁽¹⁾	D	⁽⁵⁾	393,700 ⁽⁸⁾	I	by GLG Partners LP, as investment manager ⁽⁹⁾
Common Stock	02/26/2009		S		2,000 ⁽¹⁾	D	⁽⁶⁾	391,700 ⁽⁸⁾	I	by GLG Partners LP, as investment manager ⁽⁹⁾
Common Stock	02/26/2009		S		1,500 ⁽¹⁾	D	⁽⁷⁾	390,200 ⁽⁸⁾	I	by GLG Partners LP, as investment manager ⁽⁹⁾
Common Stock								4,623	D
Common Stock								58,900,370	I	by the trustee of the Lagrange GLG Trust ⁽¹⁰⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Warrant (right to buy) ⁽¹¹⁾

$ 7.5

02/26/2009

560 ⁽¹⁾

⁽¹¹⁾

12/28/2011

Common Stock

560 ⁽¹⁾

⁽²⁾

397,740 ⁽⁸⁾

by GLG Partners LP, as manager ⁽⁹⁾

Warrant (right to buy) ⁽¹¹⁾

$ 7.5

02/26/2009

40 ⁽¹⁾

⁽¹¹⁾

12/28/2011

Common Stock

40 ⁽¹⁾

⁽³⁾

397,700 ⁽⁸⁾

by GLG Partners LP, as manager ⁽⁹⁾

Warrant (right to buy) ⁽¹¹⁾

$ 7.5

02/26/2009

2,500 ⁽¹⁾

⁽¹¹⁾

12/28/2011

Common Stock

2,500 ⁽¹⁾

⁽⁴⁾

395,200 ⁽⁸⁾

by GLG Partners LP, as manager ⁽⁹⁾

Warrant (right to buy) ⁽¹¹⁾

$ 7.5

02/26/2009

1,500 ⁽¹⁾

⁽¹¹⁾

12/28/2011

Common Stock

1,500 ⁽¹⁾

⁽⁵⁾

393,700 ⁽⁸⁾

by GLG Partners LP, as manager ⁽⁹⁾

Warrant (right to buy) ⁽¹¹⁾

$ 7.5

02/26/2009

2,000 ⁽¹⁾

⁽¹¹⁾

12/28/2011

Common Stock

2,000 ⁽¹⁾

⁽⁶⁾

391,700 ⁽⁸⁾

by GLG Partners LP, as manager ⁽⁹⁾

Warrant (right to buy) ⁽¹¹⁾

$ 7.5

02/26/2009

1,500 ⁽¹⁾

⁽¹¹⁾

12/28/2011

Common Stock

1,500 ⁽¹⁾

⁽⁷⁾

390,200 ⁽⁸⁾

by GLG Partners LP, as manager ⁽⁹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Lagrange Pierre GLG PARTNERS, INC. 399 PARK AVENUE, 38TH FLOOR NEW YORK, NY 10022	X	X	Sr Mng Dir of GLG Partners LP

Signatures

/s/ Alejandro San Miguel, as attorney-in-fact		03/02/2009
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These securities were held by the GLG Pleiade SICAV managed account, an account owned by a third-party client and in which none of GLG Partners LP (as investment manager for the managed account), GLG Partners Limited (as the general partner of GLG Partners LP) or Messrs. Pierre Lagrange, Noam Gottesman and Emmanuel Roman (as Managing Directors of GLG Partners Limited) have any ownership or pecuniary interest, and were sold pursuant to an instruction from the client to liquidate the managed account's holdings. Mr. Lagrange disclaims beneficial ownership of these securities and has no pecuniary interest therein, and this report shall not be deemed an admission that Mr. Lagrange is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
(2)	These securities were sold as part of units, each consisting of one share of common stock and one warrant. The sale price for the unit was $2.27.
(3)	These securities were sold as part of units, each consisting of one share of common stock and one warrant. The sale price for the unit was $2.29.
(4)	These securities were sold as part of units, each consisting of one share of common stock and one warrant. The sale price for the unit was $2.30.
(5)	These securities were sold as part of units, each consisting of one share of common stock and one warrant. The sale price for the unit was $2.34.
(6)	These securities were sold as part of units, each consisting of one share of common stock and one warrant. The sale price for the unit was $2.35.
(7)	These securities were sold as part of units, each consisting of one share of common stock and one warrant. The sale price for the unit was $2.40.
(8)	Mr. Lagrange disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Lagrange is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
(9)	These securities are held by certain investment funds managed by GLG Partners LP, as investment manager. GLG Partners Limited is the general partner of GLG Partners LP, and Messrs. Lagrange, Gottesman and Roman are Managing Directors of GLG Partners Limited with power to exercise investment over the securities owned by the investment funds and as a result, may be deemed to be the beneficial owner of these securities. As discussed above in footnote (8), Mr. Lagrange disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
(10)	Shares held indirectly by the trustee of the Lagrange GLG Trust through Point Pleasant Ventures Ltd. Mr. Lagrange has a pecuniary interest in these shares of Common Stock as a beneficiary of the Lagrange GLG Trust.
(11)	Each warrant is exercisable for one share of common stock at any time commencing on or after December 21, 2007, provided that there is an effective registration statement in effect at such time covering the shares of common stock underlying the warrants.

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