Dean S. Barr was named managing director and head of liquid investments at Citigroup Alternative Investments, a new position, said Jon Diat, spokesman. Mr. Barr will supervise teams managing hedge fund, structured finance, credit derivative proprietary trading and managed futures strategies. Mr. Barr will report directly to Michael Carpenter, Citigroup Alternative Investments chairman and CEO. Mr. Barr was president and CEO of Thunder Bay Capital Management, a hedge fund he founded in 2003 after leaving Deutsche Asset Management, where he was global CIO. Mr. Barr said he is in "discussions with Thunder Bay about next steps," adding that the firm will continue to operate after his absence. Citigroup Alternative Investments managed $35.5 billion in unleveraged alternative investments as of Sept. 30.