U.K.-based hedge fund Cambridge Place Investment Management has hired Stephen White, a former managing director in the securitized products group at Morgan Stanley, as chief investment officer for Europe.

White joined Morgan Stanley's London office in 1996 and was responsible for the distribution and syndication of all asset-backed and mortgage-backed securities across the continent.

“His notable experience on the buy-side and sell-side both in the U.S. and across Europe will be invaluable as the organization develops products such as the closed-ended five-year Talisman/CPIM European Property Debt Opportunity Fund,” the firm said.

The Talisman/CPIM Fund, which has been seeded with capital commitments of €50 million (US$67.9 million), will invest in a range of European commercial and residential mortgage-backed securities, as well as other asset-backed securities and real estate financing, enabling investors to benefit from the current market dislocations in Europe.