Alternative manager Investcorp said in a statement Monday that it has appointed a hedge fund industry veteran to lead the firm’s hedge fund group.
As the new head of hedge funds and chief investment officer of Investcorp’s New York-based hedge fund unit, Lionel Erdely will be responsible for overseeing the 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 was most recently the chief investment officer of French firm Lyxor Asset Management, a subsidiary of French bank Societe Generale, where he served since 2004.
Investcorp’s hedge fund unit had approximately $4.2 billion in assets under management as of June 30, which includes $2 billion allocated to the firm’s hedge fund seeding business. It has offices in New York, London, Bahrain and Saudi Arabia.