Investcorp names US hedge funds chief
Manama, October 15, 2013
Investcorp's New York-based Hedge Fund Group has announced that industry veteran, Lionel Erdely, will join the firm as head of hedge funds and chief investment officer.
Erdely will join Bahrain-based Investcorp from Lyxor Asset Management, a subsidiary of Societe Generale Group with approximately $100 billion of assets under management.
He has served as chief investment officer since 2004 and chief executive of Lyxor since 2009. During his 11-year tenure at Lyxor he was instrumental in expanding the firm's alternative investment business globally and growing its roster of large US-based institutional investors.
Erdely served as chairman of the firm's investment committee for alternative investments as well as a member of the management and the executive committee.
In his new role with Investcorp, Erdely will be responsible for overseeing the hedge fund group's strategic direction and investment decisions, as well as managing all day-to-day operations.
In addition he will be a member of the firm's management committee. Erdely will report to Investcorp's North America chief executive Savio Tung.
"We believe that Lionel's experience and extensive investment background will further enhance Investcorp's leadership position in the Gulf," Investcorp's Gulf business president Mohammed Al Shroogi said.
"As we move forward with our expansion plans and active investment strategies, we look forward to benefiting from his experience which will be essential in identifying new opportunities for our hedge funds line of business," Mr Al Shroogi said.
"Lionel's leadership and international investing experience, coupled with his demonstrated ability to successfully manage a large amount of capital through all economic cycles is an indispensable asset that will help guide the strategic direction of our hedge funds business," said Mr Tung.
"We look forward to the meaningful contributions he will make to our firm and our global investors."
As of June 30, Investcorp's hedge fund group had approximately $4.2 billion of assets under management, including $2bn allocated to the single manager platform, the firm's hedge fund seeding business that was established in 2004.
"Investcorp is a highly respected pioneer in alternative investments, especially with regard to the foresight it had in identifying the role of emerging hedge fund managers as a source of alpha for investors," said Erdely. "I look forward to carrying on the tradition of Investcorp's well respected hedge fund franchise," he added.-TradeArabia News Service