Permal plans Shanghai base amid mainland focus

Permal’s merger with fellow UK-based peer Fauchier will create Europe’s largest fund-of-hedge-fund group – one which will have a growing emphasis on China managers, says Permal chief executive Isaac Souede. A Shanghai office launch is planned this year – pending China regulatory approvals – with the operation providing asset management support in the form of portfolio managers and analysts, says Souede during a visit to Hong Kong this week. “We’ve got a Chinese fund that’s been …