* Bill Ammons to join as portfolio manager, partner -source
* Previously worked with David Allen at CPPIB - source
* To sit on investment committee and management committee
By Maiya Keidan and Simon Jessop
LONDON, Sept 20 Ex-Canada Pension Plan
Investment Board (CPPIB) fund manager Bill Ammons is set to join
his former boss's credit fund start-up, AlbaCore Capital, a
source close to the firm told Reuters.
AlbaCore has hired Ammons as a portfolio manager and partner
from CPPIB, where he was number two to AlbaCore founder and
credit market veteran David Allen, the source said.
Ammons joined CPPIB in 2010 when Allen launched a European
credit investments team that ran billions of dollars, before
Allen left the business in May 2016, the source said.
CPPIB, Allen and Ammons were not immediately available for
comment when contacted by Reuters.
Prior to joining CPPIB, Ammons had stints at Bank of America
Merrill Lynch, in its restructuring and leveraged finance team
in London, and the leveraged finance team at Wachovia.
AlbaCore is set to launch in London later in 2016, although
the source was unable to clarify the exact timing and size of
the launch, or detail on its strategy.
Ammons and Allen are joined as founding partners by Chief
Operating Officer Joseph Novarro and Portfolio Manager Matthew
Courey, who has worked with Allen for 15 years, most recently in
his role as a broker at Credit Suisse, the source said.
All four partners will serve as members of both the
investment committee and management committee.
Another recent addition at AlbaCore, as head of operations
with responsibility for overseeing risk management, is David
O'Neill, previously head of European institutional equity
trading at KCG Holdings between 2013 and 2015, the source said.
AlbaCore is expected to add more staff to both its
investment and business development teams over the coming
months, the source said.
($1 = 1.3218 Canadian dollars)
(Editing by Susan Fenton)