Permal Group is launching another vehicle to buy discounted hedge fund stakes in the secondary markets, Financial News reports. The New York hedge fund firm is raising money for the fund, which was officially launched in March.
The firm had raised $60 million for its first fund, Hedge Fund Opportunities, in December. Permal has obtained 50% discounts on some investments in hedge funds that it had acquired at 30% discounts just weeks ago.
Click here to read the Financial News report.
This article was originally published in Alternative Investment News.