Institutional investment consultancy Willis Towers Watson has created a head of liquid alternatives position after splitting the lead management role for its ‘diversifying strategies’ team.
Sara Rejal (pictured) takes up the role and will oversee the selection of hedge funds, alternative beta, reinsurance and multi-asset strategies.
The firm has also appointed Karen Dolenec to head of real assets, and Dolenec keeps responsibilities for real estate, infrastructure and natural resources.
The two positions have been created due to the departure of Damien Lovejoy, who was the firm’s head of diversifying strategies, but left to join alternative investment firm Angelo, Gordon & Co in September.
Rejal and Dolenec both joined Watsons in 2014 as senior investment consultants.
The diversifying strategies team at Watsons also includes Jennifer Bishop, who is head of macro/absolute return and alternative credit research, and Duncan Hale who is head of infrastructure.
Watsons says the diversifying strategies division researches a variety of investment return drivers provided by macro hedge funds, reinsurance, systematic hedge fund strategies, multi-strategy/multi-asset funds, real estate, infrastructure, agriculture, timber and “any new diversifying strategies that are identified through time”.
As part of its funds business headed by Paul Berriman, Watsons runs two liquid alternatives pooled vehicles that implement the firm’s best investment ideas.
A number of fund managers have announced liquid alternatives business in recent times. Funds Europe recently reported that a JP Morgan Asset Management liquid alternatives product had reached $160 million (€142 million), including seed money, since its launch in January.
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