Legg Mason Adds Alternatives With Clarion, EnTrust Deals

  • Baltimore firm buys majority in real estate firm Clarion
  • Shares fall after company reports a loss for the quarter

Legg Mason Inc., in a bid to beef up its presence in alternative investments, agreed to buy a majority interest in real estate investment firm Clarion Partners, and said it would merge its Permal hedge fund platform with EnTrust Capital.

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