Launch of China office to follow merger with fellow fund of hedge fund Fauchier, underlining a growing emphasis on the country’s nascent hedge fund market.
The fund-of-hedge-funds firm appoints Yale professor Zhiwu Chen and ex-ING executive Matthew Yao to senior roles and may double allocations to Asia to target regional growth.
Isaac Souede, chairman of $20 billion fund of hedge funds Permal, says China does not respect the euro and that an American double-dip recession would spark protectionism in the US.
Mark Fetting has revamped the corporate structure, boosted risk management, and is now looking how to grow Legg Mason, including acquisitions in emerging-market equities.
Four of PermalÆs funds of hedge funds will offer a Singapore dollar-denominated share class in an attempt to meet the demand from investors who have a positive view on Asian currencies.