PVE Capital Names New Head Of Corp. Credit Business

Jul 30 2012 | 5:38pm ET

London-based hedge fund PVE Capital has tapped Derrick Herndon to head up its long corporate credit business, which includes the MAP 6 fund and the newly created UCITS fund.

The new Credit Value UCITS fund has a similar investment strategy to MAP 6. It focuses on European credit and aims to take advantage of the current value in the European landscape.

Herndon has held several senior-level positions at investment banks globally and he has been involved in the fixed income markets for over 26 years. Before joining PVE Capital, Herndon was head of European Credit Trading at UBS. He was responsible for helping to build out its European credit trading and research teams. Prior to working at UBS, Herndon was head of European Credit Trading at Credit Suisse.

Gennaro Pucci, CIO and founder of PVE Capital, said: “I am glad Derrick has joined our management team and we look forward to continuing to grow and expand the business with his help.”

PVE Capital launched in October 2009 and is designed to take advantage of opportunities in the global credit markets. At the end of June 2012, the firm has $270 million in assets under management.

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