Exhibit 10.5.2
 CONSENT, WAIVER AND AMENDMENT NO. 2 TO CREDIT AGREEMENT
 Amendment Credit Agreement Borrower Parent Holdco I Holdco II Holdcos GLG
Parties  Lenders  Administrative Agent
 W I T N E S S E T H
 FA Sub
4 Seller Acquisition Agreement Purchase Price SGAM Acquisition
 Acquisition Closing Date Schedule I Step Plan
    Section 1. Definitions; Rules of Construction




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Section 2. Consents and Waivers Regarding Step Plan
 Lender Party
 provided, however, provided, further
 Schedule II
     provided however,
    2




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Section 3. Additional Waiver and Amendment
    Section 4. Conditions Precedent to Effectiveness
 Effective Date
  3




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Section 5. Representations and Warranties
    Article IV (Representations and
Warranties) provided however
    4




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Schedule II
 Section 6. Fees and Expenses
 Section 11.3 (Costs and
Expenses)
 Section 7. Reference to the Effect on the Loan Documents
 this Amendment hereunder hereof herein thereunder thereof
    Section 8. Execution in Counterparts
  Section 9. Consent of Guarantors
  5




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Section 10. Governing Law
  Section 11. Section Titles
 provided however
 Section 12. Notices
  Section 13. Severability
  Section 14. Successors
  Section 15. Waiver of Jury Trial
  6




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[Remainder of page intentionally left blank; signature pages follow]
 7




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FA SUB 3 LIMITED, as BorrowerBy:
    /s/ Noam GottesmanName:
    Noam GottesmanTitle:
    Director




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Guarantors:
GLG PARTNERS, INC., as ParentBy:
    /s/ Alejandro San MiguelName:
    Alejandro San MiguelTitle:
    General Counsel & Corporate
SecretaryFA SUB 1 LIMITED, as Holdco 1By:
    /s/ Alejandro San MiguelName:
    Alejandro San MiguelTitle:
    DirectorFA SUB 2 LIMITED, as Holdco 2By:
    /s/ Alejandro San MiguelName:
    Alejandro San MiguelTitle:
    DirectorGLG FA SUB 4 LIMITED, as a GuarantorBy:
    /s/ Victoria ParryName:
    Victoria ParryTitle:
    Director & Secretary




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MOUNT GARNET LIMITED,as a GuarantorBy:
    /s/ Leslie J. SchreyerName:
    Leslie J. SchreyerTitle:
    Director KNOX PINES LTD.,as a GuarantorBy:
    /s/ Alejandro San MiguelName:
    Alejandro San MiguelTitle:
    SecretaryGLG PARTNERS SERVICES LIMITED,as a GuarantorBy:
    /s/ Leslie J. SchreyerName:
    Leslie J. SchreyerTitle:
    Assistant SecretaryBETAPOINT CORPORATION,as a GuarantorBy:
    /s/ Leslie J. SchreyerName:
    Leslie J. SchreyerTitle:
    Director GLG PARTNERS SERVICES LIMITED,acting as General Partner ofGLG PARTNERS SERVICES LP,as a GuarantorBy:
    /s/ Leslie J. SchreyerName:
    Leslie J. SchreyerTitle:
    Assistant Secretary




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GLG PARTNERS INTERNATIONAL 
(CAYMAN) LIMITED,as a GuarantorBy:
    /s/ Alejandro San MiguelName:
    Alejandro San MiguelTitle:
    DirectorGLG PARTNERS CORP.,as a GuarantorBy:
    /s/ Leslie J. SchreyerName:
    Leslie J. SchreyerTitle:
    Assistant SecretaryGLG PARTNERS SERVICES INTERNATIONAL LTD.,as a GuarantorBy:
    /s/ Alejandro San MiguelName:
    Alejandro San MiguelTitle:
    DirectorGLG HOLDINGS INC.,as a GuarantorBy:
    /s/ John SmallName:
    John SmallTitle:
    PresidentGLG INC.,as a GuarantorBy:
    /s/ John SmallName:
    John SmallTitle:
    President




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CITICORP USA, INC., as Administrative Agent and
LenderBy:
    /s/ Maureen MaroneyName:
    Maureen R. MaroneyTitle:
    Authorized Signatory




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CALYON,
as LenderBy:
    /s/ Glen BarnesName:
    Glen BarnesTitle:
    Risk DepartmentBy:
    /s/ Lee BrowneName:
    Lee BrowneTitle:
    Head of Client Service Unit




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MORGAN STANLEY SENIOR FUNDING, INC.,
as LenderBy:
    /s/ Melissa JamesName:
    Melissa JamesTitle:
    Vice President




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DEUTSCHE BANK AG,
NEW YORK BRANCH,
as LenderBy:
    /s/ Kathleen BowersName:
    Kathleen BowersTitle:
    DirectorBy:
    /s/ Michael CampitesName:
    Michael CampitesTitle:
    Vice President