Bloomberg News

Avoca Hires Credit Suisse’s Piplapure to Head Structured Credit

February 13, 2012

Feb. 13 (Bloomberg) -- Avoca Capital Holdings, a Dublin- based investment firm overseeing 6 billion euros ($8 billion), hired Vaibhav Piplapure from Credit Suisse Group AG to head its structured and illiquid credit unit.

Piplapure will be based in London and report to Chief Operating Officer Clayton Perry, said Daniel Kahn, an external spokesman for the fund manager. Piplapure will initially manage allocations to Avoca’s 500 million-euro credit opportunities fund, and the firm plans to raise additional cash for him to manage, according to an e-mailed statement.

“The European credit environment is undergoing profound long-term change, primarily driven by the diminishing role of banks,” Perry said in the statement.

Piplapure was previously the head of asset finance for Europe in Credit Suisse’s securitized products group, according to the statement.

--Editor: Paul Armstorng

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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