Permal Group is a global investment management firm focused on fund of hedge funds and private equity fund of funds products for international investors. Permal, founded in 1973, operates one of the oldest fund of hedge funds and manages approximately $18.7 billion [2]in assets. The firm's client base is located primarily outside the United States and includes institutions, high net worth individuals, and families.
Permal is headquartered in London, with offices in New York, Boston, Singapore, Paris, Nassau, Dubai, Hong Kong and Tokyo.
In 2005, Permal was acquired by Legg Mason in an $800 million transaction and operates as a subsidiary of that company.[3]
[edit] Investment funds
The firm's flagship product, Permal Investment Holding, which was launched in 1992 is a global multi-strategy fund of hedge funds, managed by Jim Hodge and Robert Kaplan. The fund aims to capture two thirds of the upside during a bull market and seeks to limit its downside to one third of a comparable index during the bear market.
Permal also operates as a private equity fund of funds and secondary investment firm.[4]
[edit] References
[edit] External links
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