{"id":8857,"date":"2008-10-15T00:00:00","date_gmt":"2008-10-15T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"legg-mason-unit-eyes-distressed-sales-report","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/legg-mason-unit-eyes-distressed-sales-report.html","title":{"rendered":"Legg Mason unit eyes distressed sales: report"},"content":{"rendered":"<p><span>Tehran Times &#8211; Permal Investment Management, the hedge fund investment division of U.S. asset manager Legg Mason Inc, is aiming to raise up to $500 million to take advantage of a boom in distressed sales of hedge fund holdings, the Financial Times said. <\/p>\n<p>&nbsp;<\/p>\n<p><\/span><span>Hedge funds investors have been selling their holdings at a discount to escape restrictions on withdrawals amid a global rush for cash, according to the paper. <\/p>\n<p>The new fund has been &quot;&quot;designed to take advantage of investors&#8217; need for liquidity,&quot;&quot; Omar Kodmani head of Permal&#8217;s London office, told the paper. <\/p>\n<p>&quot;&quot;There is an unusual number of sellers out there and those who are holding funds with a one-year lock-up or even a three-month wait to the next redemption window need to get out at a discount,&quot;&quot; Kodmani was quoted as saying. <\/span><span><\/p>\n<p>&nbsp;<\/p>\n<p><\/span><\/p>\n<p class=\"Title_Big_News\" dir=\"ltr\" align=\"justify\"><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.tehrantimes.com\/index_View.asp?code=180104\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tehran Times &#8211; Permal Investment Management, the hedge fund investment division of U.S. asset manager Legg Mason Inc, is aiming to raise up to $500 million to take advantage of a boom in distressed sales of hedge fund holdings, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2926,2418,3185,1383,693,1312,406,1460,697,83,416,1339,176,3186],"class_list":["post-8857","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-10-years","tag-anonymity","tag-capital-asset-management","tag-february-12","tag-good-managers","tag-humdrum","tag-investment-funds","tag-investment-provider","tag-laurence-fink","tag-medallion","tag-mutual-fund","tag-oeh","tag-raising-money","tag-uk-regulator"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8857"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8857\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}