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Wednesday, March 13, 2013

Sullivan Completes His London Invasion

Reported by Tommy Fernandez

Joe Sullivan's invasion of London is now complete.

Legg Mason and its affiliate Permal completed their acquisition of the London-based Fauchier Partners from BNP Paribas Investment Partners.

According to Legg, Fauchier Partners had estimated assets under management of $5.4 billion as of February 28, 2013.

The deal was originally announced in December.

Here is the press release:
Company Press Release

Legg Mason and Permal Complete Acquisition of Fauchier Partners



BALTIMORE, March 13, 2013 -- Legg Mason, Inc. (NYSE: LM) and affiliate Permal have today completed the acquisition of Fauchier Partners, a leading European based manager of funds of hedge funds, from BNP Paribas Investment Partners. Fauchier Partners had estimated assets under management of $5.4 billion as of February 28, 2013. 

About Legg Mason

Legg Mason is a global asset management firm with $661 billion in assets under management as ofFebruary 28, 2013. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

For more information visit: www.leggmason.com

About Permal

Permal is a leading global alternative asset manager, offering investment solutions through established funds and customized portfolios. Established in 1973, the Group has four decades of experience in manager selection, asset allocation and risk management.

For more information visit: www.permal.com

SOURCE Legg Mason, Inc?
 

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