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About Us

KLI Asset Management LLP (“KLI”) is a multi-commodity investment manager with an emphasis on directional trading and portfolio diversification, striving to consistently compound returns across commodity and market cycles. We trade a diverse set of strategies across bulks, energy, industrial metals, soft commodities and equities, with a strong fundamental analysis which is used to identify future commodity trends and market dislocations.


Our trades are derived from a strong fundamental framework with a macro and flow analysis overlay. The focus of our business is to generate superior absolute returns across all market conditions while preserving investor capital.


Over the last 30 years, we have invested over multiple market cycles in commodities and led global commodity trading companies and gained a proven track record of building a series of successful businesses in changing 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 bachelor’s 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 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.

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