Wednesday, 24 August 2016
Last updated 15 hours ago
Sep 13 2012 | 12:15pm ET
David Cranston has returned to Investcorp to oversee the firm's $1.6 billion hedge fund seeding platform.
In a role similar to the one he held with the alternative asset manager from 2005 to 2010, Cranston will be charged with growing the Single Manager Platform, which currently includes six managers.
During his hiatus from Investcorp, Cranston was a partner at another hedge fund seeder—North Creek Advisors. Before joining Investcorp the first time, he raised capital for hedge fund products at Capital Z Investments’ Channel Capital Group. Cranston also spent 10 years managing derivatives sales desks and marketing derivatives at a number of bulge-bracket investment banks in the U.S. and London.
Said Deepak Gurnani, Investcorp’s chief investment officer and head of its $4.3 billion hedge fund group, in a statement: “I couldn’t be more pleased to have a person of David’s caliber rejoin the Investcorp team. His previous experience with the Single Manager Platform will be a great asset as he helps us to further grow our business. We have spent considerable time studying the impact of adding emerging managers to hedge fund portfolios and see advantages to seeding those that can outperform large hedge funds, particularly during uncertain times in the market. With David’s help, we look forward to partnering with more emerging managers in the months to come.”
Investcorp, with offices in New York, London and Bahrain, has three main business areas: corporate investment in the U.S., Europe and the Gulf; real estate investment in the U.S.; and global hedge funds. As of June 30, 2012, Investcorp had $11.5 billion in assets under management.