Legg Mason is a global investment firm founded in 1899. They are based in Baltimore, Maryland and manage over $671.5 billion dollars in assets. Legg Mason believes in upholding the utmost in integrity, promising to respect ethical boundaries for their clients. They offer multiple products and services for individuals and institutions. Such products include mutual funds to help construct a well-diversified portfolio and risk tolerance, closed end funds to target investment opportunities across equity and fixed income markets, separately managed accounts, college savings to help families save for higher education and variable investment portfolios to cater to your annuity, insurance and retirement accounts.
Legg Mason announced they have entered into a definitive agreement to merge with Permal and EnTrust Capital. This merger will increase their total assets to over $29 billion. This is huge news for the investment companies as they will be able to offer diverse investment products and a large number of clients with a high net worth. Legg Mason will own %65 and EnTrustPermal will receive %35. This fantastic merger will combine a team of over 55 investment professionals with the ability to sign contracts. They can now offer over 150 unique investment offerings and 18 different strategies. This merger also will help EnTrustPermal save approximately $35-$40 million dollars per year. Morgan Stanley & Co. is acting as financial advisor for Legg Mason to complete this transaction. Goldman Sachs is acting as financial advisor for EnTrustPermal.
EnTrust Capital employs independent investment advisers whom are registered with the Securities and Exchange Commission. EnTrust is a successful company that currently manages over $5 billion dollars in assets. With EnTrust you can ensure a high level of personal service, communication, due diligence and their ability to utilize their proprietary risk management system. This risk management system called ARMS, monitors risk on both the individual manager level as well as the fund of hedge funds level. EnTrust monitors and analyzes daily the material positions in the portfolio. The Permal Group is a global investment management firm that specializes in hedge funds. Permal was founded in 1973 and manages over $22 billion dollars in assets. Permal also operates as a private equity fund and secondary investment firm.