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US credit firm Stone Tower sets up shop in Europe

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Stone Tower Capital, a $20 billion alternative credit asset manager, has established Dublin-headquartered Stone Tower Europe Limited in a bid to expand its European operations and serve its growing investor base in Europe.

The firm has hired Tim Richards as managing director to oversee its European expansion, along with Alan Kelly as a director. Richards has joined from LBBW Asset Management Ireland, where he had been CEO since 2007.

He was previously with WestLB Group 1998 to 2007, holding roles including head of credit products and global head of new issues, as well as managing director at Brightwater