Xponance Inc., an asset management and investment firm, has hired Michael Orr as managing director and chief investment officer of the firm’s alternatives subsidiary, Xponance Alts Solutions LLC.

In his new role, he will lead the investment strategy for Xponance Diverse Opportunities Fund LP and play a significant role in the planning and execution of future XAlts endeavors. He brings more than 25 years of experience in the financial services industry as an asset allocator, investment banker and private equity professional. Orr previously was the executive director of alternative investments at Providence St. Joseph Health.

“We are pleased to expand the depth and breadth of our team with the CIO role for XAlts,” says Marquette Chester, senior managing director, head of alternatives at Xponance. “[Orr] will significantly enhance our ongoing initiative to provide direct growth and expansion capital as well as to meet the strategic objectives of our targeted diverse and women-led alternative managers.”