Investcorp’s New York-based Hedge Fund group has appointed industry veteran, Lionel Erdely, as the firm’s Head of Hedge Funds and Chief Investment Officer.
Erdely will join Investcorp from Lyxor Asset Management, a subsidiary of Societe Generale Group with approximately USD100 billion of assets under management, where he has served as Chief Investment Officer since 2004 and CEO of Lyxor Inc 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 Savio Tung, Chief Executive Officer, North America.
“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,” says Tung. “We look forward to the meaningful contributions he will make to our firm and our global investors.”
As of 30 June, 2013, Investcorp’s hedge fund group had approximately USD4.2 billion of assets under management, including USD2 billion 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,” says Erdely. “I look forward to carrying on the tradition of Investcorp’s well respected hedge fund franchise.”