Permal launches longer lock-up fund for new opportunities


Permal Group, one of the largest funds of funds in the world with $23.1 billion, is once again looking beyond the fads and fears of current investor sentiment. As many investors still believe they want liquidity on tap in the wake of the liquidity crisis of 2008 and beyond, Permal is one of a handful of groups that is all set to capitalise on the savvier investor’s willingness to lock up their money for longer and benefit from illiquidity premia.

The firm, which was launched in 1973, plans to launch the Permal Select Opportunities, a global multi-manager fund