Permal Investment Management Services has hired Andrew Rozanov as managing director, head of sovereign advisory. Rozanov, who joined on 1 July, will be responsible for developing Permal's relationships with sovereign wealth funds, as well as enhancing the group's portfolio construction and risk management capabilities further.
Sovereign wealth funds have become an even more attractive pot of money for hedge fund marketers as they have less investment restrictions and none of the liabilities of pension funds. They are also said to be smarter and more sophisticated investors than the average pension fund. It was