New York, NY, September 25, 2009- Michael J. Odrich, the former Lehman Brothers executive who built and ran that firm’s highly successful private equity and alternative investment business, has been named global head of Alvarez & Marsal Capital, LLC, a newly-created business focused on private equity and alternative asset investing activities. Alvarez & Marsal (A&M) Capital, LLC is an independent affiliate of Alvarez & Marsal Holdings, the leading global professional services firm specializing in turnaround management, performance improvement and business advisory services.

Odrich, who spent nearly 23 years at Lehman, grew the bank’s private investment business, which he started in 1995, to $35 billion under management in private equity funds, hedge funds and direct investments across six asset classes and more than 30 different investment strategies.

A&M Capital will work closely with the global services resources of Alvarez & Marsal to identify and execute investments that provide private capital in situations where significant value can be generated through operational improvements, business turnarounds and corporate restructurings. Investment activities will be focused on middle market underperforming and non-distressed businesses.

“This is a natural complement to A&M’s core advisory platform and we have been considering this effort for a number of years,” said Tony Alvarez II, Co-CEO of Alvarez & Marsal. “We believe that both the opportunity and timing are right. We are excited that Mike is joining us to help build this business, given his significant and proven experience in this area.”

“The opportunity to build a separate investing business alongside the Alvarez & Marsal global platform is unique,” added Mr. Odrich. “Our ability to deliver value creation through performance improvement initiatives in our portfolio of investments will differentiate our capital and position us to generate very attractive returns throughout the economic cycle.”

For more information, visit www.a-mcapital.com