Aureum Capital, a global asset management and private equity firm, has appointed Asier Parra as a managing director.

He was most recently a managing director of Merrill Lynch's global markets and investment banking division active in equity structuring for Europe, the Middle East and Africa.

Parra joined Merrill from Barclays Capital where he was responsible for the structuring capital markets operations in Spain and Portugal.

He holds university degrees in law, business administration and international finance and has completed executive education degrees from Harvard and Wharton Business School.

Aureum Capital new distressed fund targeted in USD500m is expected to close by the end of quarter one 2009.