About Us
KLI Asset Management LLP (“KLI”) is a multi-commodity investment manager focused on directional trading and portfolio diversification. The firm strives to consistently compound returns across commodity and market cycles, deploying a diverse set of strategies across bulks, energy, industrial metals, soft commodities and equities, with a strong fundamental analysis used to identify emerging commodity trends and market dislocations.
The firm's investment philosophy integrates a strong fundamental framework with a macro and flow analysis overlay. The approach is anchored in robust fundamental analysis and aims to deliver strong absolute returns in diverse market environments.
Over the past three decades, the leadership team has invested across various commodity market cycles and managed global commodity trading firms, demonstrating a consistent ability to establish and grow successful businesses while adapting to evolving market conditions.
Ricardo Leiman
Chief Investment Officer, Founding Partner
Ricardo Leiman is a seasoned commodity professional having begun his career at Louis Dreyfus in 1987. He became Chief Operating Officer of the Agricultural Division ex South America in 2002 and Global Chief Operating Officer of the division in 2005. In 2006, he became Chief Operating Officer of Noble Group and Chief Executive Officer in 2009 until he left in 2011. In 2012, he founded Engelhart Commodities Trading Partners (“ECTP”). He is Chairman and Founder of Tag International, a charity that specializes in technological aid to developing countries. Ricardo graduated from University of Sao Paulo with a bachelor’s degree in Economics and has an MBA from University of Nyenrode in the Netherlands, and an MBA from the University of Rochester, USA. Born in Brazil, he is a long-term resident of the UK and a national of Brazil and the Netherlands. He has lived and worked in Brazil, USA, the Netherlands, Hong Kong and the UK.
Pedro Marion
Portfolio Manager, Founding Partner
Pedro Marion has 18 years’ experience in commodity trading and started his career at Goldman Sachs in 2004 on the Industrial Metals desk. In 2007, he joined Glencore Credit Suisse Joint Venture where he continued in the Bulks and Metals spaces. In 2013, he started at ECTP working closely with Ricardo. Pedro graduated with Honours from Imperial College, London with a BS degree in Mathematics and Statistics. He was born in Brazil and is a UK resident and a national of France.
Loic Jonchery
Head of Trading and Research, Partner
Davi Vieira
Chief Operating Officer, Co-Founder
Loic Jonchery has 10 years’ experience in commodity trading, starting his career on the Exotics and Index desk at Barclays in 2011. After working at Barclays for 3 years, he joined ECTP in 2014 working closely with Ricardo and Pedro, before joining them at KLI to oversee research and trading. Loic studied in France where he followed the Grande École path, graduating from both an engineering school and a business school majoring in finance each time.
Davi Vieira is the Chief Operating Officer and Chief Compliance Officer at KLI. Davi is responsible for all the non-investment aspects of the business, including Operations, Compliance, Risk, Legal, Finance and Business Development. Before co-founding KLI Davi was COO at Atenvia Asset Management (2017-18) and COO and Partner at Astellon Capital Partners LLP (2013-2017). Davi was also Operations Manager at Abydos Capital Management (2012-2013). Prior to joining Abydos, Davi worked at James Caird Asset Management (2008 – 12 formerly the Moore Credit Fund) working across Operations, Finance, Fund Accounting and Product Control. Davi started his career at Morgan Stanley (2003-2008) working in both US and UK offices supporting prominent Hedge Fund clients within their prime brokerage division.
Magdalena Gatzinska
Director, Business Development
Magdalena Gatzinska is an investment professional with over 20 years of experience in senior leadership and entrepreneurial roles across capital markets and private equity. Prior to joining KLI, she headed Business Development at Soloda Investment Advisors. Magdalena was also a co-founder and CIO of Catalyst Capital and LMD Capital - multi asset class investment firms with presence in Europe & the Middle East. Earlier in her career, she held leadership roles at JPMorgan and Deutsche Bank, overseeing Equity & Hybrid Derivatives desks. She holds a MBA in Analytical Finance & Econometrics and a BA in Economics & Mathematics from the University of Chicago.