-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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MIC-Info: RSA-MD5,RSA,
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 3yOIEBI645SBQ3s0P6Zunw==

<SEC-DOCUMENT>0001455022-09-000004.txt : 20090317
<SEC-HEADER>0001455022-09-000004.hdr.sgml : 20090317
<ACCEPTANCE-DATETIME>20090316184708
ACCESSION NUMBER:		0001455022-09-000004
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:		20090317
DATE AS OF CHANGE:		20090316
EFFECTIVENESS DATE:		20090317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PERMAL HEDGE FUND OPPORTUNITES LTD
		CENTRAL INDEX KEY:			0001455022
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-126506
		FILM NUMBER:		09685966

	BUSINESS ADDRESS:	
		STREET 1:		C/O HARNEYS CORPORATE SERVICES LTD
		STREET 2:		P.O. BOX 71
		CITY:			ROAD TOWN
		STATE:			D8
		ZIP:			BVI
		BUSINESS PHONE:		011-599-9732-2233

	MAIL ADDRESS:	
		STREET 1:		C/O HARNEYS CORPORATE SERVICES LTD
		STREET 2:		P.O. BOX 71
		CITY:			ROAD TOWN
		STATE:			D8
		ZIP:			BVI
</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>0001455022</cik>
        <entityName>PERMAL HEDGE FUND OPPORTUNITES LTD</entityName>
        <issuerAddress>
            <street1>C/O HARNEYS CORPORATE SERVICES LTD</street1>
            <street2>Road town</street2>
            <city>Tortola</city>
            <stateOrCountry>D8</stateOrCountry>
            <zipCode>BVI</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>011-599-9732-2233</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>D8</jurisdictionOfInc>
        <entityType>Other</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Edmond</firstName>
                <middleName>de la Haye</middleName>
                <lastName>Jousselin</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>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michel</firstName>
                <middleName></middleName>
                <lastName>Delauzun</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>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gary</firstName>
                <middleName></middleName>
                <lastName>Gladstein</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>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <middleName></middleName>
                <lastName>Gruninger</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>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Isaac</firstName>
                <middleName></middleName>
                <lastName>Souede</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>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName></middleName>
                <lastName>Waters</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>$25,000,001 - $50,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-002777</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-10-28</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>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>
            <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>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>25671120</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>approximate as of 1/31/09</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>3</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>None paid by the fund in connection with US offering in the past year</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>30000</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Annual fees payable to directors of the fund only.  This amount does not investment management fee payable to the fund's investment adviser, which varies greatly from year to year, depending on performance and total assets</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>PERMAL HEDGE FUND OPPORTUNITES LTD</issuerName>
                <signatureName>Joseph M. Furey</signatureName>
                <nameOfSigner>Joseph M. Furey</nameOfSigner>
                <signatureTitle>Director and Associate General Counsel</signatureTitle>
                <signatureDate>2009-03-16</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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