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Examples
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Permal, part of money-management firm Legg Mason Inc., is a large fund-of-hedge-funds manager, which means its funds invest in other firms' hedge funds.
Permal Says It Won't Have Trouble Paying Investors in Market Crunch Steve Eder 2011
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Citigroup and Morgan Stanley's concerns have focused largely on Permal Investment Holdings NV, a $2.2 billion multistrategy fund.
Permal Says It Won't Have Trouble Paying Investors in Market Crunch Steve Eder 2011
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The June 8 Permal letter said the firm regularly submits financial information to many financial intermediaries and consultants, and "virtually all" have "confirmed" the firm's views on its liquidity.
Permal Says It Won't Have Trouble Paying Investors in Market Crunch Steve Eder 2011
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"We believe that the duration of our assets across these portfolios is completely appropriate and consistent with the risk/reward and liquidity profiles that we strive to achieve for each mandate," Permal Chief Executive Isaac Souede wrote in the June 8 letter, which was received by some Merrill Lynch clients.
Permal Says It Won't Have Trouble Paying Investors in Market Crunch Steve Eder 2011
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Both brokerages continue to make other Permal funds available to investors.
Permal Says It Won't Have Trouble Paying Investors in Market Crunch Steve Eder 2011
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Morgan Stanley Smith Barney on Thursday put one of the same Permal funds on its watch list, discouraging new investors from putting money into it, people familiar with the action said.
Permal Says It Won't Have Trouble Paying Investors in Market Crunch Steve Eder 2011
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Together the three funds invested $450 million with hedge-fund firm Permal Group.
Pensions Leap Back to Hedge Funds Steve Eder 2011
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Legg Mason's alternative-investments affiliate Permal is seeking returns by investing in the international expansion of business.
Legg Mason Profit Rises, but Outflows Continue Corrie Driebusch 2011
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A spokesman for the New York funds said the liquidity questions don't affect the announced investment with Permal.
Permal Says It Won't Have Trouble Paying Investors in Market Crunch Steve Eder 2011
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In March, Permal landed a prestigious new client, New York City's public pension funds.
Permal Says It Won't Have Trouble Paying Investors in Market Crunch Steve Eder 2011
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