"GLG Partners Inc.’s attempt to mitigate losses from former hedge-fund manager Greg Coffey’s bet on a Siberian coal mining company was dealt a blow after Sibanthracite Plc pulled its initial public offering.
The GLG Emerging Markets Growth Fund, a pool created to run down assets acquired by Coffey, had sought to raise as much as $214 million by selling its 25 percent stake in the IPO. The fund, now part of London-based Man Group Plc (EMG), will try to find an industrial buyer for the holding, its biggest asset, two people with knowledge of the matter said on July 12."
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