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BNP Paribas
Legg Mason Inc. completes Fauchier Partners acquisition
Legg Mason Inc. completes Fauchier Partners acquisition

Legg Mason Inc. said Wednesday that it completed the acquisition of Fauchier Partners, a European money manager acquired from BNP Paribas Investment Partners. Legg Mason Inc. said Wednesday that it completed the acquisition of Fauchier Partners, a European money manager acquired from BNP Paribas Investment Partners. The Baltimore-based money manager paid $80 million for Fauchier plus agreed to pay as much as $56 million more over the next few years if financial targets are reached. Fauchier, a manager of funds of hedge funds, will be merged into Legg's Permal Group affiliate in New York. Fauchier had $5.4 billion in assets under management as of the end of February. Legg managed...

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