LONDON, Nov 3 (Reuters) – Permal Group, one of the world’s biggest hedge fund firms, said on Thursday it has withdrawn from the consortium that manages Haussmann Holdings because of its decision to broaden its mandate to be more global.
Haussman Holdings was established in 1969 by French-based Worms Group and Swiss-based Notz Stucki & Cie as a US-focused fund of hedge funds and is managed by a consortium which will include Permal until December 31.
Funds of hedge funds invest in a variety of hedge funds to spread investment and business risks.
