Sid Chhabra was named head of structured credit and collateralized loan obligations at BlueBay Asset Management, a spokeswoman said.
The position is new, and Mr. Chhabra reports to Mark Dowding and Stephen Thariyan, co-heads of developed markets.
Mr. Chhabra will lead the establishment and management of a new set of global structured credit and asset-backed securities strategies. He is based in London and works closely with colleagues covering leveraged finance.
The new capability will be used in BlueBay's existing multiasset credit portfolios and in new stand-alone traditional and alternative strategies. BlueBay expects to launch the strategies starting the end of this year.
Mr. Chhabra "will strengthen our existing leveraged finance proposition and, given the range of strategies we plan to launch, will reinforce our position as a firm that sits at the convergence point of alternative and traditional asset managers," CEO Erich Gerth said in a news release. "(He) has extensive experience in securitized assets, both as an investor and a structurer, and is highly regarded in the industry; therefore, he is ideally positioned to grow BlueBay's business in this area."
BlueBay plans to appoint others to the new team. The firm has $60 billion in assets under management.
Mr. Chhabra was a managing director responsible for structured credit and CLOs at Anchorage Capital Europe. Spokesmen could not immediately be reached for comment.
