Jupiter Asset Management has appointed Peter Fegelman as hedge fund business development director. His role is a newly created one which will involve the strategic development and direction of the hedge fund business at Jupiter.

Most recently, he was a managing director atLehman Brothers in the investment management division.  In this role he structured, negotiated and carried out due diligence on Lehman's equity investments in external hedge fund managers.  He also raised permanent capital for the private equity business through an IPO for a listed fund.

Before Lehman, he was a managing director at Citigroup Alternative Investments where he built and raised capital for several proprietary single manager hedge funds.

Edward Bonham Carter, chief executive of Jupiter Asset Management, said: "We already have a highly regarded hedge fund offering thanks to the hard work and skill of the hedge fund team at Jupiter over the past few years.  Having established our presence in the market, we believe this area has great potential and Peter's appointment underlines our commitment to growing our share of it.  We are therefore delighted that someone of Peter's calibre is joining us to drive our strategy forward."