Credit fund manager Avoca expands into convertibles

Leveraged loan manager Avoca Capital has today announced it is expanding into the area of convertible bonds, hiring a new team to cover the area.

Tarek Saber and Jasper Van Ingen, who both worked together at Dutch asset manager APG, and Jonathan Sharkey will form the new team. Darren Carter, former chief executive of KBC Financial Products, will be a partner as well as co-investor in the new convertible bond venture.

Saber will take the role of chief executive of Avoca Capital Bond Strategies, Van Ingen will be senior portfolio manager and Sharkey the head of operations in the venture. 

Avoca aims to launch a long-only convertible bond fund in early 2012, with other long-only product launches later in the year.

Saber has 25 years of experience in the convertible area, and previously held roles with APG, HSBC, and was head of convertible bonds at both Schroders and Nat West. Van Ingen previously worked as senior portfolio manager alongside Saber at APG, while Sharkey was COO with London-based convertible hedge fund Lydian Asset Management.

Headquartered in Dublin with offices also in London, Avoca Capital has €6 billion in assets under management. Formed in 2002 as a leveraged loan manager, the firm recently launched a European credit hedge fund.