Legg Mason Adds Alternatives With Clarion, EnTrust DealsBy
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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