The principal at alternative manager Investcorp has left to join London-based hedge fund firm Fenician Capital.
Financial News reported that Andrew Crane is the new chief executive of Fenician, where his primary goal is to increase the firm's assets under management--which currently stands at just below $100 million-- through a new marketing strategy.
A six-year veteran of Investcorp, Crane told the news outlet that his time at Investcorp equipped him with a strong contacts book and comprehensive understanding of the operational side of the business, including hedge fund seeding options.
Crane also previously worked at hedge fund consultancy VHC Partners and asset management group Fidelity Investments.
Founded by former Morgan Stanley head of proprietary trading Corrado Abbattista in 2005, Fenician's two other founding partners left to join BlueCrest Capital Management UK in December.