Perella Weinberg, among the hottest of the new boutiques, hit the ground running with advisory work on some big deals in Europe. The world was left waiting, however, for words indicating progress in the area of proprietary investment. No longer. The firm says it has hired Leon Bressler as a London-based partner tasked with forming a real estate fund. He will lead the firm's efforts in a joint venture with Fisher Brothers, which has invested already in Perella Weinberg. The timing may strike some as iffy. But the move fits an industry trend: Diversifying into private equity, venture or other types of investing.

For more on the move:
- Here's a Financial Times article