Launches & Closures

Permal to offer fourth opportunistic fund


Permal Group, one of the largest funds of funds in the world with $20.19 billion, is set to launch its fourth opportunities fund, the Permal Select Opportunities II in the fourth quarter of 2012.

Permal Select Opportunities II is a multi-manager, multi-strategy fund with a two-year lock-up, and a flexible mandate to invest in a broad range of longer-dated investment strategies, including special situations, hedge funds with longer lock-ups and secondary-market hedge fund opportunities.

The fund will provide a diversified portfolio of such investments which will be of particular interest to savvier investors who are willing to lock