Michael Kelly joined ORIX USA Asset Management as CEO.
Mr. Kelly is responsible for asset management activities and expansion of the firm's investment management offering, and is based in New York.
The previous CEO, Michael Blum, left in July, confirmed Shelby Menczer, an ORIX USA spokeswoman. Mr. Blum could not be reached for information about his plans.
Mr. Kelly was co-CEO and chief investment officer of multistrategy hedge fund manager FrontPoint Partners. FrontPoint ceased investment operations after losing most of its assets following the 2011 conviction and sentencing of Joseph F. “Chip” Skowron III, a former portfolio manager, for insider trading.
ORIX USA and its subsidiaries, including Houlihan Lokey, Mariner Investment Group and RED Capital Group, manage a total of $25 billion.