WATCH WJZ @ NOON ON SATURDAY | The Army-Navy rivalry comes to Baltimore. WJZ has live pre-game ceremonies and the game.

Legg Mason Acquiring Fauchier Partners

BALTIMORE (AP) — Mutual fund company Legg Mason Inc. says it is acquiring Fauchier Partners.

The terms of the deal announced Thursday for the European manager of hedge funds were not disclosed. Legg Mason says the deal is expected to close in the first quarter of 2013.

Legg Mason says Fauchier will be merged into Legg’s subsidiary Permal. The combination with the alternative asset manager will give the two about $24 billion assets under management and offices in nine locations worldwide.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Baltimore

Track Weather On The Go With Our App!
Your Podcast Network Play.it

Listen Live