Pimco has appointed Alice Cavalier as senior vice president in its alternatives team.
Cavalier will focus on the analysis of stressed and distressed investments in Europe, de facto managing a global team of 110.
Her appointment is part of a wider alternatives push at the firm and follows the hires of Paul Vosper, executive vice president and real estate strategist, and Lionel Laurant, executive vice president and distressed credit portfolio manager, earlier this year.
Previously, Cavalier was director of Bayside Capital, a firm specialising in distressed debt and special situations. Prior to that, she worked as an analyst in the leverage and acquisition division of Morgan Stanley.
Commenting, Laurant said the firm’s clients were continuing to diversify their portfolios in their search for yield, and alternative investment strategies were in high demand as a result.
Dan Ivascyn, managing director and group chief investment officer, added that the firm had hired over 140 new employees this year, including over 40 investment professionals across alternatives, client analytics, emerging markets, mortgages, real estate and macroeconomics.
In total, the firm manages alternative assets of $26 billion (€24.6 billion).
©2016 funds europe