Permal Group

The Permal Group
Private
Industry Hedge funds, Private Equity
Founded 1973 (1973)
Headquarters London, United Kingdom
Products Hedge funds, Private equity funds
Total assets $22 billion[1]
Website www.permal.com

Permal Group is a global investment management firm focused on hedge funds and private equity funds products for international investors. Permal, founded in 1973, operates one of the oldest fund of hedge funds and manages approximately $22 billion[1] in assets. Clients include sovereign wealth funds, pension funds, endowments, foundations, insurance companies, family offices, private banks and high-net-worth individuals. Its CEO is Omar Kodmani and its Chairman is Isaac R. Souede.[2] Permal is headquartered in London, with offices in New York, Boston, Singapore, Paris, Nassau, Dubai, Hong Kong, and Beijing.

History

In 2005, Permal was acquired by Legg Mason in an $800 million transaction and operates as a subsidiary of that company.[3]

In 2013, Permal acquired Fauchier Partners, a leading European based manager of funds of hedge funds, from BNP Paribas Investment Partners.[4]

In 2016, it was announced that the Permal Group subsidiary would merge with EnTrust Capital to increase assets.[5]

Investment funds

Permal offers a range of multi-manager, multi-strategy funds as well as single manager funds and customized separate accounts. The firm's flagship product, Permal Investment Holding, was launched in 1992 and is a global multi-strategy fund of hedge funds, managed by 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 through its subsidiary, Permal Capital Management.

In 2016, Legg Mason announced it would merge its Permal Group subsidiary with EnTrust Capital to increase assets managed by its hedge funds-of-funds business to $26 billion.[6]

References

  1. 1 2 "Introduction – The Permal Group". permal.com. Archived from the original on 2013-09-21.
  2. ↑ "Biographies". permal.com. Archived from the original on 2015-01-15.
  3. ↑ Legg Mason closes on $800M deal. Baltimore Daily Record, November 4, 2005
  4. ↑ Legg Mason, Inc. (13 March 2013). "Legg Mason and Permal Complete Acquisition of Fauchier Partners". prnewswire.com.
  5. ↑ Kozlowski, Rob (2016-09-08). "University of Maine sticks with EnTrustPermal following merger". Pensions & Investments. Retrieved 2017-03-22.
  6. ↑ Kozlowski, Rob (2016-09-08). "University of Maine sticks with EnTrustPermal following merger". Pensions & Investments. Retrieved 2017-01-06.


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