MONEY MANAGEMENT

Blue Elephant Capital taps BlackRock exec as managing partner

Brian Weinstein was named managing partner at Blue Elephant Capital Management, Mr. Weinstein said in an e-mail.

It is a new position. Mr. Weinstein started Sept. 1 and heads up the firm's institutional investor business. Blue Elephant Capital Management had $45 million in assets under management as of July 31, and is the investment adviser for the Blue Elephant Consumer Fund, which invests in prime consumer, short-term, small-business loans issued by online peer-to-peer marketplaces.

Mr. Weinstein was a managing director and the head of the multisector institutional business within fixed income at BlackRock (BLK). He left at the end of June.

When Mr. Weinstein's departure was announced in March, BlackRock spokesman Brian Beades said most of Mr. Weinstein's responsibilities would be assumed by members of the fixed-income team, and Akiva Dickstein, managing director, senior portfolio manager and head of the mortgage portfolio management team, would take on Mr. Weinstein's core and core-plus portfolios.