Investment Strategist/Business Development at a HF

Hi all, 

Recieved a headhunter notice about this job. Was wondering what exactly these positions do. From my understanding, business development seems like a pretty standard sales job where the goal is to go out and win clients. Investment strategy sounds interesting but from what I understand, the role entails working with PMs to set up a fund/fund idea and build it structurally and know the ins and outs to be able pitch it to clients and be the front face of the firm but not do any actual investing. 

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