Lionel Erdely will join alternative investment manager Investcorp as chief investment officer and head of hedge funds, based in the firm’s New York office.
Mr. Erdely will replace Deepak Gurnani, who retired from Investcorp in April, confirmed James Cheston, a company spokesman.
Mr. Erdely will oversee strategy, investment decisions and day-to-day operations for Investcorp’s hedge fund group. He also will join the firm’s management team and will report to Savio Tung, CEO, North America, Mr. Cheston said.
Mr. Erdely’s start date at Investcorp has not been set.
Mr. Erdely was CEO (USA) and co-chief investment officer of Lyxor Asset Management and was based in the French firm’s New York office. Lior Segev, chief operating officer, was named acting CEO (USA) until a new CEO appointment is made, according to a news release from Lyxor. Also, Jean-Marc Stenger was appointed CIO for alternative investments. Mr. Stenger had been deputy CIO for alternative investments. He will report to Nicolas Gaussel, who remains CIO at the firm.
Investcorp managed about $4.2 billion in hedge funds of funds and on its single manager seeding platform as of June 30. Lyxor managed $9 billion in hedge funds of funds as of the same date.