Legg Mason, Inc. and affiliate Permal have announced a definitive agreement to acquire Fauchier Partners, a leading European based manager of funds of hedge funds, from BNP Paribas Investment Partners. Fauchier Partners will be combined with Permal, one of the largest alternative asset managers in the world...

In October, the performance of hedge fund strategies exposed exclusively to equity-related risk factors remained positive despite the market environment thanks to a strong dynamic alpha.

The Lyxor Hedge Fund Index gained 0.2% in September (+2.2% in 2012). 11 Lyxor Strategy Indices out of 14 ended the month in positive territory, led by the Lyxor Event Driven - Special Situations Index (+2.2%) and the Lyxor L/S Equity – Long Bias Index (+1.5%).

Fixed-income instruments exhibited significant performance across all risk classes: worldwide and US high-grade (1.01% and 0.93% respectively), convertibles (0.95%), and the credit-spread index (0.66%)…

Union Bancaire Privée, UBP SA (“UBP”), one of Switzerland's leading and best-capitalised private banks and a leader in the hedge fund industry, announced today that it has signed a definitive agreement to acquire Nexar Capital Group (“Nexar”), a global alternative investment manager.