New fund AlbaCore makes latest hire

Amy Ward has joined as a founding partner from Chenavari Investment Managers. Earlier this week, AlbaCore was on the verge of €1bn backing from PSP.

AlbaCore Capital, the new fund manager being launched by ex-Canada Pension Plan Investment Board senior executive David Allen, has hired Amy Ward from Chenavari Investment Managers as a founding partner and head of business development according to market sources.

Ward, who will be a member of the firm’s management committee, had been at Chenavari, a $5 billion European credit manager, since 2013 as head of business development. In the role, she managed investor relations and marketing for the firm’s global client base.

From 2008 to 2013, Ward was head of marketing and investor relations at the JCAM Global Fund, having transitioned all investors in the $3.5 billion fund from Moore Capital to newly established management company JCAM.

Prior to JCAM, Ward had worked with AlbaCore founder David Allen at GoldenTree Asset Management, where she was in the business development team.

Allen, who launched AlbaCore earlier this year having previously established the European credit operation of CPPIB, has hired a number of team members recently including 15-year colleague, Matthew Courey, and his former CPPIB number two, Bill Ammons.

Earlier this week, market sources confirmed a Bloomberg report that AlbaCore was close to securing a €1 billion commitment from Canadian pension PSP Investments. It is also understood to be in discussions with a number of other LPs.