(updated with correction)
Danske Invest hired DDJ Capital Management to subadvise two Danske Invest high-yield bond funds, confirmed Line Kyndal, senior portfolio manager with Danske Invest.
The two Danske funds, one launched in June and the other in October, currently have combined assets of more than $750 million. They will invest in DDJ’s U.S. core high-yield strategy, run by DDJ portfolio manager Joseph Lind.
DDJ currently has $7 billion in assets under management, half of which is managed for non-U.S. investors.
Sophie Baker contributed to this story.