Funds of hedge funds need to adapt to stay relevant, says chief of Permal

Activist agitator

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Isaac Souede, CEO and chairman of fund of hedge funds (FoHF) Permal, is a quiet, thoughtful man. The somewhat placid exterior, however, masks a real passion for the FoHF industry and in particular his ambitions for Permal.

He joined Permal in 1985. Souede was instantly drawn to the asset management side of the business, which was just starting. Together they have grown and Permal is now one of the largest FoHFs in the world.

For Souede the FoHF business is an ever-changing and dynamic part of the