Permal Plans China Base

Jan 9 2013 | 12:04pm ET

Permal Group will open an office in Shanghai this year as it seeks to ramp up its access to Chinese hedge fund managers.

The fund of hedge funds, which recently agreed to acquire Fauchier Partners, is awaiting regulatory approvals for the new base, which would house both portfolio managers and analysts, including some relocated from London and New York. Eventually, Permal envisions moving the center of its Asian activities—currently Singapore—to Shanghai.

The new office will be led by Steve Zhang, currently based in Singapore, who serves as head of emerging markets and manager of Permal's China Strategy Fund.

"We've got a Chinese fund that's been up and running for three years and which has performed really well," Permal CEO Isaac Souede told Asian Investor. "We want to be closer to the action. And from there we can cover Hong Kong readily. It's harder to cover China from Hong Kong."


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

When Less is More: The Case for Concentrated Equity Strategies

Jun 1 2015 | 7:59am ET

The conventional wisdom is that wide diversification is the “holy grail,” as...

 

Sponsored Content

Editor's Note