People Moves

BlueCrest builds Alignment absolute return unit

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BlueCrest has added a team of three seasoned fixed-income specialists to its fast-growing Alignment Investors operation, a division that the London-based hedge fund firm led by Mike Platt set up last year to run absolute return-focused fixed-income portfolios for institutional investors.

Launched in December 2008, the strategy has found support with a number of leading investment consultants. It has already attracted the interest of some big institutional investors - including the UK Railway Pension Investments (Railpen) scheme, which recently hired Alignment to manage some of its pension fund assets.

Paul Griffith, previously a credit specialist at Merrill Lynch, recently