Michael Blum was named CEO of ORIX USA Asset Management, a new unit of ORIX USA Corp., Jim Thompson, the company’s CEO, confirmed in an interview.
Mr. Blum will “oversee and support” executives of hedge fund manager Mariner Investment Group, which will continue to operate independently under the leadership of founder and Chairman William Michaelcheck, Mr. Thompson said.
ORIX Corp., the Tokyo-based parent company, completed the purchase of a majority interest in Mariner in December. Terms of the deal were not disclosed.
Mr. Blum also will look to expand ORIX USA Asset Management’s presence, possibly through additional acquisitions or strategic partnerships, Mr. Thompson said.
“We’re always open for business, looking at new possibilities,” Mr. Thompson said.
Mr. Blum was head of U.S. corporate development at ORIX USA. Mr. Thompson said he hasn’t decided yet how Mr. Blum will be replaced.