Legg Mason affiliate EnTrustPermal combines existing affiliate Permal Group and new acquisition EnTrust Capital. Unifying the alternative investment expertise of both Permal Group and Entrust Capital strengthens Legg Mason’s ability to cater to the structural shift by investors towards alternative investment solutions. Entrust’s current development of the Blue Ocean Fund – a unique direct lending opportunity to the global shipping industry – is an example of how Legg Mason is responding to the booming demand for alternative solutions by providing new, innovative products. The combined affiliate has more than $26 billion in assets under management.
“As the demand for alternative investments increases, Legg Mason is pleased to be able to bring one of the largest alternative investment managers to market. The Blue Ocean Fund is one of many opportunistic investment strategies that EntrustPermal will present to investors over time,” Legg Mason head of sales Beau Titchkosky said.
Legg Mason affiliate Clarion Partners is a leading real estate investment manager which invests throughout the Americas across the five key property sectors – retail, industrial, multi-family residential, office space, and hotels. The New York firm provides a range of distinctive product offerings to clients covering a broad spectrum of risk-return profiles. Clarion has a range of investment strategies including core, value-add and opportunistic strategies for investors. They rely on extensive on-the-ground research by more than 280 employees throughout major markets, innovative ideas and experience, to build real estate value for clients. Established in 1982, the real estate company holds approximately $41.5 billion in funds under management. It has offices in the United States, Brazil, and England.
“Investors are continuing to look for assets that are negatively correlated to equities and bonds, and direct real estate can play a key part in investor’s portfolios to help diversify that core risk, provide stability of capital, and steady yield. We are pleased to have Clarion Partners join the Legg Mason stable, bringing their strong US capabilities to local investors,” Titchkosky said.
The acquisitions bring the total number of Legg Mason affiliates to nine, and follows the more recent acquisitions of RARE Infrastructure and Martin Currie. Legg Mason is a multi-affiliate funds management group, whereby each affiliate operates its own funds management business independently while a number of share support services, such as distribution, marketing and clients services, are offered by the parent Legg Mason. (In Australia RARE undertakes its own distribution).
Australia plays a large role in Legg Mason’s global plan. The Legg Mason affiliates with operations in Australia include Western Asset, Martin Currie Australia and RARE Infrastructure. According to Jaspal Sagger, Head of International Product “the asset management industry is constantly evolving and no more so than in Australia, with its reputation for innovation within asset management. To be successful, we must understand the needs of our clients and reconcile these with appropriate investment capabilities. The breadth of our investment platform now gives us a big advantage in this regard”.
The information in this document is of a general nature only and is not intended to be, and is not, a complete or definitive statement of matters described in it. It has not been prepared to take into account the investment objectives, financial objectives or particular needs of any particular person. Legg Mason Asset Management Australia Ltd (ABN 76 004 835 849 AFSL 240827)(“Legg Mason Australia”) is part of the Global Legg Mason Inc. group. Legg Mason Australia does not guarantee any rate of return or the return of capital invested. Past performance is not necessarily indicative of future performance. Investments are subject to risks, including, but not limited to, possible delays in payments and loss of income or capital invested. These opinions are subject to change without notice and do not constitute investment advice or recommendations. Further information about the EnTrustPermal Blue Ocean Fund can be obtained by contacting Legg Mason.