Investcorp Group has placed former Lyxor Asset Management chief investment officer Lionel Erdely at the helm of its U.S.-based hedge fund business.
Erdely was named head of hedge funds and chief investment officer of the unit. He is charged with leading its strategic direction and overseeing investment decisions on a day-to-day basis. He also joins the firm's management committee.
"Lionel's leadership and international investing experience, coupled with his demonstrated ability to successfully manage a large amount of capital through all economic cycles is an indispensable asset that will help guide the strategic direction of our hedge funds business," new boss Savio Tung, Investcorp's CEO for North America, said. "We look forward to the meaningful contributions he will make to our firm and our global investors."
Erdely has served as Lyxor's CIO since 2004 and as CEO of Lyxor Inc. since 2009.