Loan manager Avoca spreads its wings with moves into credit and convertibles
Thu May 24, 2012
Fast-growing but low-profile €6 billion loan manager Avoca has embarked on a major drive to diversify its asset management platform with a series of high-level hires and additions to expand the business into the related areas of long/short credit funds, convertibles and structured credit
The acquisition last year by Avoca Capital of the
well-established European credit hedge fund business run by
former Ilex and Liontrust man Simon Thorp forms a key part of a
wider strategy by the €6 billion European leveraged loan
manager to diversify into related and complementary areas of
investment opportunity across the credit and convertible
Besides absorbing the long-standing long/short European
credit operation that has been run by Thorp and his team since
2000 – with an unbroken track record of 10 positive
years since 2002 – Dublin-based Avoca also hired last
year an experienced team of convertible bond specialists that
previously ran several billion dollars at Dutch pension fund
In addition, the firm has kick-started a move into
structured credit investing with the recent addition of former
Credit Suisse European asset finance head Vaibhav Piplapure as
ISSN: 2151-1845 / CDC10004H
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