Familiar faces join AlbaCore – exclusive

Deborah Malka arrives as a director from CPPIB, where she previously worked with founder David Allen. Venu Thirunamachandran joins ex-Renshaw Bay colleague Joe Novarro as a board director.

Hot on the heels of a sizeable seed investment from Canadian pension fund PSP Investments, AlbaCore Capital has added two new but familiar faces to its credit investment team, PDI can reveal.

According to market sources, Deborah Malka has joined the firm from Canada Pension Plan Investment Board (CPPIB) as a director. She spent three years at the firm, where her time overlapped with AlbaCore founders David Allen and Bill Ammons. Before joining CPPIB, she worked at private equity firm CCMP Capital after a period at Goldman Sachs.

Market sources also confirmed the appointment of Venu Thirunamachandran as a board director. Thirunamachandran worked alongside AlbaCore chief operating officer Joe Novarro at asset manager Renshaw Bay, a firm he joined in 2011. Previously, Thirunamachandran worked at JP Morgan, where he was global head of fixed income exotics and hybrids between 2008 and 2011.

The firm declined to comment on the appointments.

Earlier this month, PSP Investments, the investment arm of the Public Sector Pension Investment Board, committed €500 million seed money to AlbaCore’s inaugural debt fund. Although €1 billion was previously reported to be allocated to the vehicle, the pension fund had said that it is possible it may “deploy more capital” in the future.

AlbaCore was launched by Allen, Novarro and Ammons, as well as Matthew Courey, Amy Ward and Safraz Zavahir.

In September, Bill Ammons joined the firm from CPPIB, following the July appointment of David O’Neill as business operations and risk manager from KGC Holdings.