•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

From Kirsten Bischoff, Opalesque New York:

As the secondary hedge fund markets hits new levels of interest, Opalesque recently learned more about the Permal Hedge Fund Opportunities Fund which was launched in late 2008 and closed at the end of March 2009. Tim Schuler, Investment Strategist at Permal Asset Management, discussed the fund during the Opalesque New York Roundtable.

As the hedge fund industry has contracted, those investors into single strategy funds with the ability to allocate have become much more interested in the secondary hedge fund market than they ever were in the past. While there are a number of managers who have found themselves struggling with redemptions due to poor performance, there are also many positive performing managers who are receiving redemptions simply because their investors have liquidity needs.

Hedge funds, particularly those with the more liquid strategies spent most of 2008 being looked upon as the ATM portion of investors’ portfolios. For investors still under lock-up periods, or in funds that have gated assets or put temporary side pocket vehicles into place, the secondary market became the best way to exit hedge fund shares. One firm that has taken this a step further, building up an investment fund around this opportunity is $20bn Permal Asset Management (......................

To view our full article Click here