Peter Higgins has moved from BlueBay Asset Management to join Ares Management as a partner and portfolio manager in the Ares Credit Group in London, PDI has learned from market sources.
Higgins has been hired to help expand the firm’s European leveraged finance products and will work alongside the European Credit team.
He was previously with BlueBay Asset Management, where he was a partner and portfolio manager in its Global Leveraged Finance group.
Higgins also worked in leveraged finance at Deutsche Bank, Goldman Sachs, Credit Suisse First Boston and Prudential Securities, holding a variety of positions in London and New York.
Ares Management had around $100 billion in assets under management on March 31 this year and raised $10.6 billion for credit in 2016. Formed in 1997, it has 15 offices in the US, Europe and Asia.
London-headquartered asset manager BlueBay promoted Erich Gerth to chief executive officer in May following the departure of Alex Khein. The firm has around $57 billion in assets under management.