Sunil Gaglani was named chief risk officer of Investcorp’s hedge fund business, a spokeswoman said.
It is a new position. Mr. Gaglani will be responsible for “monitoring the risk of investments made across the firm’s hedge funds business including funds of funds, single managers, special opportunity and alternative beta portfolios,” said a new release from the alternatives money manager.
Mr. Gaglani will also be a member of the Investcorp’s hedge funds investment committee and will report to Lionel Erdely, head and chief investment officer of Investcorp’s hedge funds group.
Previously, Mr. Gaglani was internal investments risk officer and a managing director at Mariner Investment Group, where he analyzed potential risks of the firm’s multistrategy and single-strategy funds and helped develop the firm’s risk infrastructure, according to the Investcorp news release. Discussions on a replacement are taking place, said someone familiar with the matter.
Investcorp has about $11 billion in alternative assets under management.