Hedge Fund Videos | 30+ Free Videos on Hedge Funds

Asia Fund of Hedge Funds

Permal Group Vet to Launch $40M Asia Fund of Hedge Funds

Permal Group’s former head of emerging markets investments Steve Zhang is seeking to raise the amount of $40 million by February for his own company to invest in hedge funds in the Asia-Pacific region.
Zhang’s Pacrise Investment Management is awaiting approval from the Monetary Authority of Singapore to start the fund, he said in a telephone interview from the city-state yesterday. It will invest in five to 10 hedge funds initially.
Pacrise will be one of the few funds of hedge funds started in Asia in recent years. Institutions such as sovereign wealth funds, pensions and endowments have increasingly dominated hedge fund industry inflows, channeling their investments through the largest U.S. funds of hedge funds or by direct allocations.
Zhang, 38, joined Permal, a Legg Mason Inc. (LM) unit, as a senior analyst in its New York office in 2002, he said. He started to focus on emerging markets at the end of 2003 and was promoted to managing director in 2011, he said.
Source: Bloomberg

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Permal Group, Steve Zhang, Asia-Pacific Region, Pacrise Investment Management, Monetary Authority of Singapore, United States, US Funds, Legg Mason Inc., New York.

Link to This Resource: Asia Fund of Hedge Funds

Redesign by HedgeCo Website Creation