-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LRFW/CJwQxAms7Nmpxsu1n7IFu3jxJ3pyT3hAi5vSicOBwQLjy0H7urkv9y6oq38
 U3F5Yjif9I1uARmSFrwuhA==

<SEC-DOCUMENT>0001232116-09-000003.txt : 20090318
<SEC-HEADER>0001232116-09-000003.hdr.sgml : 20090318
<ACCEPTANCE-DATETIME>20090318151205
ACCESSION NUMBER:		0001232116-09-000003
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20090318
DATE AS OF CHANGE:		20090318
EFFECTIVENESS DATE:		20090318

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PERMAL INVESTMENT PARTNERS LP
		CENTRAL INDEX KEY:			0001232116
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			NY

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-55101
		FILM NUMBER:		09690841

	BUSINESS ADDRESS:	
		STREET 1:		900 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2124186500

	MAIL ADDRESS:	
		STREET 1:		900 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001232116</cik>
        <entityName>PERMAL INVESTMENT PARTNERS LP</entityName>
        <issuerAddress>
            <street1>900 THIRD AVENUE</street1>
            <street2></street2>
            <city>NEW YORK</city>
            <stateOrCountry>NY</stateOrCountry>
            <zipCode>10022</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>2124186500</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>NY</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>General</firstName>
                <middleName></middleName>
                <lastName>Partner</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Permal Asset Management</street1>
                <street2>900 Third Ave</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Over $100,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-06-010615</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2003-01-10</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>C P Eaton and Associates</recipientName>
                <recipientCRDNumber>31170</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>c/o C P Eaton Partners LLC</street1>
                    <street2>131 Rowayton Ave</street2>
                    <city>Rowayton</city>
                    <stateOrCountry>CT</stateOrCountry>
                    <zipCode>06853</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Legg Mason Investor Services, LLC</recipientName>
                <recipientCRDNumber>109064</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>100 Light Street</street1>
                    <street2></street2>
                    <city>Baltimore</city>
                    <stateOrCountry>MD</stateOrCountry>
                    <zipCode>21202</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Credit Suisse First Boston LLC</recipientName>
                <recipientCRDNumber>15654</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>Eleven Madison Ave</street1>
                    <street2></street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10010-3629</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>HSBC Bank USA, National Association</recipientName>
                <recipientCRDNumber>19585</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>Private Bank</street1>
                    <street2>452 Fifth Ave, 6th Fl</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10018</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Citigroup Global Markets Inc</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Affiliate of Citigroup is CITI DISTRIBUTION SERVICES INC</associatedBDName>
                <associatedBDCRDNumber>29244</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>485 Lexington Ave</street1>
                    <street2></street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10017</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Maybridge Partners Inc</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4 Maybridge</street1>
                    <street2></street2>
                    <city>Belvedere</city>
                    <stateOrCountry>CA</stateOrCountry>
                    <zipCode>94920</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>227444852</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>approximate as of 1/31/09</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>141</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>950000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>Estimates are based on fees paid to US finders in previous fiscal year.  Some commission and fees may be paid by the general partner and not by the fund itself</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>2000000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Estimated fee includes investment management fee, which may vary greatly from year to year depending on total assets and performance</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>PERMAL INVESTMENT PARTNERS LP</issuerName>
                <signatureName>Joseph M Furey</signatureName>
                <nameOfSigner>Joseph M Furey</nameOfSigner>
                <signatureTitle>Director and Associate General Counsel</signatureTitle>
                <signatureDate>2009-03-18</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----