Managing director returns to Investcorp

David Cranston returned to Investcorp in his previous position as managing director to lead marketing efforts to hedge funds of funds and family offices for the firm's single hedge fund manager seeding platform, confirmed Deepak Gurnani, chief investment officer.

Mr. Cranston held the same role from 2005 through 2010 at Investcorp and left to pursue other interests, most recently as a partner in hedge fund seeder North Creek Advisors. Neither Bruce Wilson nor Steven Bloom, North Creek's principals, returned calls seeking information about Mr. Cranston's replacement.

Brian Rice replaced Mr. Cranston in the Investcorp marketing position until he left the firm a year ago, Mr. Gurnani said. Mr. Rice joined credit manager Highland Capital Management as a marketer and managing director.

The six emerging hedge fund managers now on Investcorp's single manager seeding platform manage a collective $1.6 billion.