Lehman Brothers Holdings Inc. named Randall S. Yanker as a Managing Director and Chief Executive Officer of Lehman Brothers Alternative Investment Management LLC, the Firm’s fund-of-funds business.
Lehman Brothers Alternative Investment Management is a joint venture between the Firm and Ehrenkranz & Ehrenkranz LLP, the New York-based ultra high-net-worth advisory firm. Through the joint venture, which was established in September of 2001, the Firm offers multi-manager alternative investment strategies to institutional and highnet- worth investors. Ehrenkranz & Ehrenkranz has operated multi-manager funds-of funds since 1986 and has approximately $1.7 billion in assets under management in such funds.
Mr. Yanker has 15 years of experience in analyzing and managing alternative investments, including the establishment of the alternative asset management business at Swiss Bank Corp. (now part of UBS). Most recently, he served as head of a New York based advisory firm, Alternative Asset Management, Inc., that advised institutions and sophisticated high-net-worth individuals on hedge fund investments. He is a graduate of Harvard University.
In his new position as Chief Executive Officer of Lehman Brothers Alternative Investment Management, Mr. Yanker will be responsible for managing the ongoing development of the joint venture that combines Ehrenkranz & Ehrenkranz’s 15 years of experience in the management of alternative investment strategies for its clients with Lehman Brothers’ strength in global institutional and high-net-worth marketing, as well as its capital markets, product structuring and risk management expertise. Mr. Yanker explained that, “the Lehman Brothers and Ehrenkranz & Ehrenkranz platform represents a unique opportunity to build a leading alternative investment business by leveraging our combined experience, track record, balance sheet strength, infrastructure, and global distribution capabilities.” Lehman Brothers has more than $6 billion in assets under management in alternative investment funds focused on Merchant Banking, Venture Capital, Real Estate, Communications, and fund-of-funds.