BALTIMORE, March 13, 2013 /PRNewswire/ — Legg Mason, Inc. (NYSE: LM) and affiliate Permal have today completed the acquisition of Fauchier Partners, a leading European based manager of funds of hedge funds, from BNP Paribas Investment Partners. Fauchier Partners had estimated assets under management of $5.4 billion as of February 28, 2013.

About Legg Mason

Legg Mason is a global asset management firm with $661 billion in assets under management as of February 28, 2013. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

For more information visit: www.leggmason.com

About Permal

Permal is a leading global alternative asset manager, offering investment solutions through established funds and customized portfolios. Established in 1973, the Group has four decades of experience in manager selection, asset allocation and risk management.

For more information visit: www.permal.com

SOURCE Legg Mason, Inc.