At its core, PCM’s strategy seeks to identify top performing managers who are experts in specific industries and strategies, to combine those managers into investment vehicles that provide enhanced risk/return dynamics to investors, and to cultivate long-term relationships with the managers to lead to continued access to their future funds, secondary opportunities, sharing of industry experience and information.
Primary Fund Investing
Investments in newly formed funds managed by independent private equity managers underlie all of PCM’s private equity activities and PCM enjoys numerous long-term relationships in the private equity community. As a long-term investor in private equity funds, PCM is viewed as a desirable limited partner. In addition, PCM’s experience as a direct investor, its global network, knowledge of private equity structures and environment, and deal flow adds value to the manager’s business. More>
Secondary Market Fund Purchases
PCM will purchase limited partnership interests in existing funds, providing an important source of liquidity for investors who may seek to exit prior to the termination of private equity funds in which they are invested. Focused in particular on smaller limited partnership interests, PCM can replace a potential source of distraction for General Partners with a long-term committed and experienced investor with the intent to develop and/or maintain a long-term relationship with the General Partner. More>
Working with its LPs, PCM has created a broad array of private equity services and products that leverage its core investment capabilities. We have created custom separate private equity portfolios for a select number of large intuitional investors. Additionally, PCM has participated in select direct investment opportunities, alongside high-quality managers who value their long-term relationship with Permal. These opportunities often provide additional asset allocation and risk/return enhancement potential. In addition, PCM has created a liquidity managed vehicle that blends both hedge funds and private equity into a single investment product. More>