Lyxor's Bernstein Heads to Hedge Fund Axar Capital

Jun 4 2015 | 2:06pm ET

Michael Bernstein has left funds-of-funds and indexing firm Lyxor to take a role as head of investor relations for new hedge fund Axar Capital Management. 
Bernstein, who was head of North American business development for Paris-based Lyxor, was recruited to the company in 2009 to help the firm expand into U.S. markets. Reporting directly to the company’s U.S. CEO, Bernstein Bernstein led sales and marketing efforts for both Lyxor’s funds-of-funds’ business as well as its indexing products in the aftermath of the global financial crisis. 
Lyxor is a wholly-owned subsidiary of Société Générale.
Bernstein reportedly begins his new role next week. He is no stranger to the buy side, being a former equities analyst and spending five years at Man Group’s Financial Risk Management prior to taking the Lyxor post. 
Axar Capital will reportedly focus on special situations, although it has yet to officially launch, and has been affiliated in media reports with former Mount Kellett Managing Director Andrew Axelrod.
A number of former Lyxor executives are also associated with Axar, according to social networking site LinkedIn, including president Tim Parrot, who was with Lyxor from 2007 to 2012, and COO Ricardo Mosquera, who was head of portfolio and hedge fund quantitative analysis for Lyxor from 2009 to 2012.  

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