Fund launches & closures

Permal's Zhang sets up shop in Singapore

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Even though hedge fund managers in the Asia-Pacific are finding it hard to find capital at the moment, there are, nonetheless, institutional investors who are upping their profiles in the region and looking for talent to invest with.

One such firm is New York-headquartered Permal Asset Management, which has been an investor in the Asia-Pacific and emerging markets for many years. The firm now has nine offices worldwide following the recent opening of a Tokyo outlet.

Furthermore, Steve Zhang, a portfolio manager, has moved out to Singapore and is the firm's first investment professional to be based in