Tuesday, 21 April 2015
Last updated 12 hours ago
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."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…