Phoenix Investment Adviser, a private investment firm that specialises in high-yield corporate debt, has named Peter Hughes as a senior research analyst.
As a part of the investment team, he will cover the technology, business services, retail, restaurant, and metals and mining sectors.
Hughes is the most recent of several senior hires appointed in response to increasing interest from institutional allocators – including a recent USD40m seed investment into Phoenix's Institutional Credit Opportunity Fund. Hughes will report to Phoenix's founder and chief investment officer Jeffrey Peskind.
Founded nearly a decade ago, Phoenix focuses on bonds of highly leveraged US companies and manages more than USD500m. In the past year, the firm has raised about USD200m.
Prior to joining Phoenix, Hughes was a director at Citi Capital Advisors, where he focused on identifying long and short investment opportunities in high yield and investment grade cash bonds, credit default swaps, and leveraged loans across various sectors, including technology, telecom, homebuilding, and transportation.
He previously worked at Credit Suisse, where he recommended risk management strategies for the company's internal bank loan portfolio and actively invested in the group's proprietary CDS trading book.
"As Phoenix continues to pursue investment opportunities across all sectors, it is critical we fortify our research capabilities. Peter's comprehensive knowledge of the US debt markets will complement and strengthen our investment team," says Peskind.