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BlueBay bolsters leveraged finance team

News Team, 13/01/2021

Fixed income specialists BlueBay Asset Management has appointed two new hires as it strengthens its developed market special situations capabilities, namely Neill Morgan, as a senior analyst and Juan Herrero, as an analyst.

Based in London, both will report to Adam Phillips, who joined the firm in October last year as Head of Developed Markets within its global leveraged finance team, and was charged with further enhancing BlueBay’s offering within this space.

The team believes there is an increasing opportunity to invest in stressed and distressed credit, where the level of corporate restructurings is set to remain elevated in the wake of the Covid-19 crisis. To capitalise on this, the team will be launching new special situations investment strategies in the coming months.

The new strategies will complement BlueBay’s existing event driven credit strategy, managed by Adam, Duncan Farley and Tim Leary.

Mr Phillips said in a statement: “Neill and Juan’s appointments are another milestone as we build out our already strong credentials within developed market stressed and distressed credit. Their expertise and knowledge of this market will be critical as we further enhance our special situations capabilities.”

Before joining BlueBay, Mr Morgan was a managing director and distressed debt snalyst at Seaport. Prior to this he also held several senior roles at companies including NatWest Markets where he was head of loan and distressed strategy; M&G, where he was a director in its distressed debt business; and at Marathon Asset Management where he was a director.

Prior to joining BlueBay, Mr Herrero worked at Black Toro Capital with a focus on private equity, special situations and distressed opportunities in the Spanish market. Before this he worked in Houlihan Lokey’s restructuring team, focussing mainly on Iberia; and at Njord Partners, a mid-market European special situations investment manager.

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